Estimated payment vouchers (Form 1040‑ES) are IRS‑issued payment slips used to pay federal income tax on income not subject to withholding, such as self‑employment income, interest, dividends, rent, alimony, and other taxable income. They allow taxpayers to mail in quarterly estimated tax payments when withholding is insufficient or nonexistent.
Form 1040‑ES includes preprinted payment vouchers containing your name, address, and Social Security number. Taxpayers use these vouchers to send their quarterly payments to the IRS and avoid underpayment penalties.
🧾 Why Are Estimated Payments Required?
Estimated tax is the method the IRS uses to collect tax on income that does not have withholding taken out automatically. This includes self‑employment earnings, investment income, rental income, capital gains, prizes/awards, and other taxable income categories.
If the tax withheld from wages, pensions, or other sources is not enough, taxpayers must make quarterly estimated payments to avoid penalties.
✔️ Who Must Make Estimated Tax Payments?
You generally must make estimated payments if both of the following apply:
- You expect to owe at least $1,000 in tax for the current year after subtracting withholding and refundable credits.
- Your withholding and credits will be less than the smaller of:
- 90% of the current‑year tax, or
- 100% of the prior‑year tax (110% for higher‑income taxpayers with AGI > $150,000).
Special rules apply to farmers, fishers, certain household employers, and higher‑income taxpayers.
🧮 How Much Should You Pay Each Quarter?
Taxpayers should calculate their estimated payments using the Form 1040‑ES worksheet, which determines annual estimated tax and divides it into four payments.
The worksheet includes the Self‑Employment Tax and Deduction Worksheet, which helps calculate SE tax and deductions for estimated payments.
📅 Quarterly Due Dates (Example: 2026 Schedule)
The IRS divides the tax year into four unequal payment periods:
| Quarter | Period Covered | Due Date |
|---|---|---|
| Q1 | Jan 1 – Mar 31 | April 15, 2026 |
| Q2 | Apr 1 – Jun 30 | June 15, 2026 |
| Q3 | Jul 1 – Sep 30 | September 15, 2026 |
| Q4 | Oct 1 – Dec 31 | January 15, 2027 |
Note: The final payment may be skipped if the taxpayer files the return by Jan 31 and pays any remaining balance in full.
🖨️ How to Print Estimated Payment Vouchers in the Software
📌 Important: You cannot print vouchers directly from the Voucher section of the product.
They must be printed from the Print Return area for the IRS‑formatted version to generate correctly.
🧭 Navigation Path:
Review → Summary → Print Return