Second Quarter Estimated Tax Payments

If you make estimated payments, like many individuals including sole proprietors, partners, and S corporation shareholders, you have until June 15 to pay your estimated tax payment for the second quarter of tax year 2021 without penalty. Additionally, most state quarterly estimates are due June 15 as well.

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‍Federal estimated tax:
If you are self-employed or have other income that requires you to pay quarterly estimated taxes (individuals who expect to owe tax of $1,000 or more when they file their return and corporations who expect to owe $500 or more), they are due June 15, 2021.

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Individual taxpayers can use the IRS Interactive Tax Assistant online to see if they are required to pay estimated taxes.

Corporations can see Form 1120-W, Estimated Tax for Corporations for more information.

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Tennessee estimated tax:
Updated compensation changes mean you might need to be paying state quarterly estimated payments (if you have a combined tax liability of $5,000 or more in both the prior and current tax years). The second quarter Tennessee estimated tax payment is also due on June 15, 2021.

Taxpayers can pay using the IRS Modernized e-File (MeF) Program.