# Today is the deadline for 1st estimated tax payment for 2016



## UberTaxPro (Oct 3, 2014)

Just a reminder in case anyone is actually making any money out there! 
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Payment Period* *Due Date*
January 1 - March 31, 2016 April 18, 2016
April 1 - May 31, 2016 June 15, 2016
June 1 - August 31, 2016 September 15, 2016
September 1 - December 31, 2016 January 17, 2017


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## IckyDoody (Sep 18, 2015)

how much, roughly, are the penalties for not paying quarterly? For example, my tax responsibility for this year should be 1500ish, all from 1099 income.


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## UberTaxPro (Oct 3, 2014)

IckyDoody said:


> how much, roughly, are the penalties for not paying quarterly? For example, my tax responsibility for this year should be 1500ish, all from 1099 income.


If you keep it under $1000.00 owed it's 0 otherwise:
Interest on underpayments of federal tax must accrue interest, compounded daily, at rates published quarterly by the Internal Revenue Service. For the current quarter the rate is 4%

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