Ready for Financial Confidence?
If you run a small business or work independently, staying on top of tax deadlines is crucial. The Q2 estimated tax payment deadline is June 16, 2025. Missing it could result in unexpected penalties and interest, even if you’re expecting a refund when you file your return.
Whether you’re a contractor, real estate professional, or consultant, understanding who must pay could save you thousands of dollars each year. Let’s break down what you need to know for this quarter.
Who Needs to Pay Estimated Taxes?
The IRS requires quarterly estimated tax payments if you expect to owe $1,000 or more in federal taxes this year and you don’t have enough taxes withheld from your paycheck or other income sources.
This applies to many small business owners and independent workers, especially those with income not subject to withholding. Examples include:
- Contractors, subcontractors, and construction professionals
- Real estate agents, brokers, and landlords receiving rental income
- Independent consultants and professional service providers
What Is the Q2 Estimated Tax Deadline?
The IRS divides the tax year into four quarterly payment periods. The Q2 payment covers income earned from April 1 through May 31. This year, the payment is due on Tuesday, June 16, 2025.
*Note: The usual June 15 deadline shifts to June 16 because June 15 falls on a weekend in 2025.
How Much Should I Pay?
Your tax professional should provide quarterly vouchers with pre-filled amounts to pay each quarter. You may avoid underpayment penalties and interest if you pay 90% of your current year’s tax liability (must be estimated), or (a) 110% of last year’s tax liability if your adjusted gross income exceeded $150,000 last year, or (b) 100% of last year’s tax liability if your AGI was less than $150,000.
What Happens If You Don’t Pay on Time?
If you miss the estimated tax deadline, the IRS doesn’t wait until year-end to take notice. Penalties can start to accrue the very next day, and they’re not limited to just a one-time fee. Even if you plan to catch up later or expect a refund at tax time, late or insufficient payments can trigger multiple types of charges.
Underpayment Penalty
The underpayment penalty is applied applies if you haven’t paid enough in estimated taxes throughout the year, even if you make your Q2 payment on time. This is especially important for businesses in industries like construction, real estate, and consulting, where income often varies from one quarter to the next.
Need help staying on track? Download the Q2 Estimated Tax Checklist to double-check what’s due and what to do next.
How to Pay Your Q2 Estimated Taxes
The IRS offers several convenient payment methods:
- IRS Direct Pay – free, secure, and easy
- EFTPS (Electronic Federal Tax Payment System)
- IRS2Go mobile app
- Mailing a check with Form 1040-ES – to be phased out by Sept. 30, 2025
No matter how you pay, make sure your payment is marked as the Q2 estimated tax and is either received electronically or postmarked by June 16.
Don’t Forget State Estimated Taxes!
Many states require quarterly payments, too. If your business operates or has clients in states like Louisiana, check your state’s tax requirements and deadlines to stay compliant.
Plan Ahead Now to Avoid Stress Later
Estimated tax deadlines can sneak up when you’re busy running your business. Staying on top of your payments helps you:
- Avoid year-end tax surprises
- Prevent cash flow crunches
- Stay in good standing with the IRS
If your income or expenses have changed since Q1, review your tax estimates now. Underpaying could cost you penalties; overpaying may tie up cash you could invest elsewhere.
Get the Q2 Estimated Tax Checklist (Free Download)
To help you stay organized, we’ve created a Q2 Estimated Tax Checklist tailored for small business owners like you. It covers deadlines, payment options, and tips to avoid penalties.
Download your free checklist here.
Need Help Calculating What You Owe?
At Attracct Advisors, we specialize in helping you build smarter tax strategies. Whether you need help forecasting your payments, catching up on missed deadlines, or maximizing deductions, we’re here to take care of it.
Hop into a Free Consultation Call with us before June 16.
