If you had self-employment income earnings of $400 or more during the year, you
are required to pay self-employment taxes and file Schedule SE with your Form
1040, which is generally due by April 15 (now July 15, 2020). However, if you
expect to owe $1,000 or more in combined income tax and self-employment taxes,
you’ll need to make estimated quarterly tax payments.
Estimated payments are due on April 15 (now July 15 for 2020), June 15, September 15, and January 15 of the following year. Those dates shift to the next business day if the 15 falls on a weekend or holiday.
You
can estimate the amount you need to pay using the worksheet on page 8 of Form
1040-ES. The form will help you determine the amount you’ll owe for the year,
divide it by four, and pay in equal installments by the due dates mentioned
above. The form also includes vouchers to include when mailing your payment. If
you prefer to pay online using IRS Direct Pay, you won’t need a voucher (or a
stamp).
