If you are self-employed, a freelancer, an independent contractor, or a small business owner in South Carolina, June 15, 2026 is your next important tax date — the Q2 quarterly estimated tax payment deadline. Many business owners nail Q1 in April and then forget Q2 is six weeks later. Don’t let it slip.

Why Quarterly Estimated Payments Exist

The U.S. tax system is pay-as-you-earn. W-2 employees have taxes withheld from every paycheck automatically. When you are self-employed, no employer does that for you — so the IRS requires you to estimate your liability and pay it in four installments throughout the year. Miss a quarterly payment and you can face an underpayment penalty for that specific period, even if you pay your full annual balance when you file.

The Full 2026 Quarterly Schedule

• April 15, 2026 — Q1 (January–March) ✓ Already past
• June 15, 2026 — Q2 (April–May) ← Coming up next
• September 15, 2026 — Q3 (June–August)
• January 15, 2027 — Q4 (September–December 2026)

Note these don’t follow standard calendar quarters — the IRS sets these specific dates. Q2 covers only April and May income, which is why June 15 comes relatively quickly after the April 15 Q1 deadline.

How Much Should You Pay for Q2?

Option 1 — Track Your Actual Income

Add up what you earned January through May, project the rest of the year, calculate your estimated annual tax, and pay one quarter of that amount. Best for business owners whose income is relatively predictable.

Option 2 — Safe Harbor Method

Pay 25% of your total 2025 tax liability with each quarterly installment. If your 2025 adjusted gross income exceeded $150,000, you need to pay 110% of last year’s total — so 27.5% per quarter. This method protects you from underpayment penalties regardless of how your 2026 income shifts. For variable-income earners this is almost always the safer choice.

Don’t Forget Self-Employment Tax

Self-employed individuals owe both the employee and employer shares of Social Security and Medicare — currently 15.3% on net self-employment income up to the Social Security wage base. This is on top of regular federal income tax, and your quarterly payments need to cover both. Underestimating self-employment tax is one of the most common mistakes new freelancers and business owners make.

South Carolina State Estimated Taxes

South Carolina requires quarterly estimated state income tax payments if you expect to owe SC tax, and the deadlines mirror the federal schedule — including June 15 for Q2. The SC Department of Revenue assesses its own underpayment penalties completely separately from anything the IRS charges, so a missed state payment is its own independent problem.

How to Pay Q2 Right Now

• IRS Direct Pay at irs.gov/payments — free, instant, no account required
• IRS2Go app — pay directly from your phone
• EFTPS (Electronic Federal Tax Payment System) — best for recurring quarterly filers who want a payment history and scheduling
• Mail — Form 1040-ES payment voucher with a check payable to “United States Treasury,” postmarked by June 15

Set Your Remaining 2026 Reminders Now

While you’re thinking about it — add September 15, 2026 and January 15, 2027 to your calendar right now. Quarterly taxes are completely manageable when you plan for them. They become a problem when Q3 or Q4 sneaks up while you’re focused on running your business. A CPA who monitors your income throughout the year and adjusts your estimates when things shift is the most reliable way to stay compliant all year long without overpaying.

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