If you're self-employed, you need to make federal estimated tax payments each quarter. QuickBooks Self-Employed tracks and calculates your federal estimated tax payments. Here's how it calculates everything.
What happens if you miss a federal estimated tax payment?
If you miss a payment and need to make a late payment, follow these steps from the IRS.
What happens if you don't pay federal estimated taxes?
If you miss a payment, for whatever reason, there are penalties. Learn more about failure to file penalties and underpayment penalties. Or use IRS Form 2210 to calculate any penalties or request a waiver.