pennyboosters

Guides / Taxes and paperwork

Quarterly estimated taxes, explained

Pay as you go, and avoid underpayment penalties.

5 min read

If you expect to owe a significant amount of tax on side income, the IRS generally expects you to pay during the year, not all at once in April.

How it works

  • Payments are usually due four times a year, in April, June, September and January
  • You can pay online through IRS Direct Pay or your IRS online account
  • Many states have their own estimated tax payments too

An alternative

If you also have a job, you may be able to increase withholding from your paycheck with a new Form W-4 instead of making estimated payments.

General information, not tax advice. Check IRS.gov for current due dates and rules. Penny Boosters isn't paid by any gig app or platform.