Self-employed individuals must pay estimated quarterly taxes to the IRS throughout the year. Failure to do so can lead to penalties and interest. Understanding the system and making timely payments can help reduce stress at tax time. Different categories of earners, such as self-employed individuals, business owners, and investors, may need to make estimated tax payments. The IRS requires timely and accurate payments to avoid penalties and interest charges. Quarterly tax payments are due four times a year on specific dates. Most people opt to pay online for convenience and efficiency. It’s essential to calculate and pay the correct amount each quarter to avoid underpayment penalties.

Read more at Yahoo Finance: When they’re due and how to pay