Third Quarter Estimated Taxes: Preparing for the September 15 Deadline

The third installment deadline for estimated taxes is fast approaching on September 15. For individuals who do not have sufficient taxes withheld from their earnings throughout the year, this is a critical date to keep your tax obligations on track.

Managing Non-Withheld Income with Form 1040-ES

Estimated tax payments are designed to cover earnings that are not fully satisfied through standard withholding. This typically applies if you generate self-employment income, receive investment returns, or draw from other sources where taxes are not automatically deducted. Generally, these quarterly installments are submitted using Form 1040-ES.

Woman managing self-employment business on laptop

Protecting Yourself from Underpayment Complications

If you rely on estimated tax payments to manage your liability, submitting this third-quarter installment by the September 15 deadline is highly recommended. Falling behind on these scheduled payments can lead to underpayment issues and potential complications when it is time to file your annual return.

If you need assistance calculating your quarterly estimates or want to review your current tax strategy, reach out to our team to schedule a consultation.

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