IRS Reminds Millions of June 16 Estimated Tax Payment Deadline

The Internal Revenue Service (IRS) is reminding millions of taxpayers, including self-employed individuals, freelancers, and small business owners, that the second quarterly estimated tax payment for 2025 is due on Monday, June 16. This payment covers income earned from April 1 to May 31, 2025, and is required for those who expect to owe at least $1,000 in taxes from income not subject to withholding, such as gig work, rental income, or investment earnings. Taxpayers are encouraged to use electronic payment options like IRS Direct Pay or the IRS Online Account for the fastest and most secure processing. Failure to meet the deadline may result in interest and underpayment penalties, even if a refund is due later. Additionally, taxpayers unsure about their estimated payments can use the IRS Tax Withholding Estimator or consult a tax professional to avoid penalties. Meanwhile, taxpayers in India are advised to wait until June 15 for the Income Tax Department to update tax data on its portal before filing their returns to avoid discrepancies and potential notices.