If your business is a taxable corporation or you are the owner of the business and the business income is reported on your personal income tax return, you have a responsibility to estimate and pay quarterly income taxes. The IRS requires quarterly estimated payments of income taxes, and your state might require payments as well. Use the tax reports discussed in this chapter to help calculate your quarterly income tax.
Corporate estimated tax payments are due as follows:
Individual estimated tax payments are due as follows:
If the 15th of the month in which a tax payment is due falls on a Saturday, Sunday, or federal holiday, the tax payment is due on the next business day.