Reminder: Third Quarter Estimated Taxes Are Due - September 15, 2026 Deadline | DIAMOND HEAD TAX GROUP TAX PLANNING OAHU
September 15 Estimated Tax Deadline: A Guide for Oahu Individuals & Business Owners
If you are self-employed, own a business, receive income without sufficient tax withholding, or have other income that isn't fully covered by withholding, it's time to review your 2026 tax situation.
The third quarter federal estimated tax payment for 2026 is due September 15, 2026. The IRS divides estimated tax payments into four payment periods, with the remaining 2026 payment generally due January 15, 2027.
For individuals who need to make estimated payments, Form 1040-ES is generally used to calculate federal estimated tax.
Who May Need to Make Estimated Tax Payments?
Estimated taxes are particularly important for self-employed individuals, independent contractors, business owners, investors, landlords, and others who receive income without enough federal tax being withheld.
The IRS generally requires estimated payments when you expect to owe at least $1,000 in federal tax after subtracting withholding and refundable credits, and your withholding and credits are below the applicable safe-harbor amount. In general, that means comparing your expected current-year tax with your prior-year tax liability. Higher-income taxpayers can be subject to a different prior-year percentage.
Why Should You Review Your Taxes Now?
Estimated taxes are part of the federal pay-as-you-go tax system. Waiting until tax-filing season to discover that you have a large balance due can create an unexpected cash-flow problem.
Making timely estimated payments can also help you avoid or reduce potential underpayment penalties when you have an estimated-tax obligation. The IRS notes that simply making a payment at the end of the year may not necessarily correct an underpayment for earlier payment periods.
A mid-year tax review gives you an opportunity to look at your income, deductions, credits, withholding, and estimated payments before the year is over.
Self-Employed and Business Owners: Don't Forget the Bigger Picture
If you're self-employed, your tax planning may involve more than federal income tax. Self-employed individuals may also have Social Security and Medicare taxes to consider.
Your business income may also change substantially during the year. A strong quarter, a new client, a major contract, investment income, or other unexpected income can affect your projected tax liability. That is why estimated-tax planning should be based on your current financial picture—not simply last year's numbers.
What About Hawaii Taxes?
Living and working in Oahu can mean keeping track of both federal and Hawaii state tax obligations.
Hawaii's Department of Taxation provides state individual income-tax forms and guidance for residents and nonresidents, including Form N-11 for Hawaii residents and Form N-15 for nonresidents and part-year residents.
Your Hawaii tax situation may differ depending on your residency, income, business structure, and other circumstances. That's why a review of both federal and Hawaii obligations can be an important part of your tax planning.
Don't Let September 15 Sneak Up on You
The September 15 estimated-tax deadline is a good reminder to take a fresh look at your 2026 tax picture.
At Diamond Head Tax Group Oahu, we help individuals, families, self-employed professionals, and business owners understand their tax obligations and plan ahead. Rather than waiting until tax season to discover a surprise balance due, use this opportunity to review your estimated payments and make adjustments where appropriate.
Need help reviewing your 2026 estimated taxes?
Contact Diamond Head Tax Group Oahu in Honolulu to discuss your tax situation and determine what information you should gather for your estimated-tax review.
Tax rules and individual circumstances vary. This article is for general informational purposes and should not be considered individualized tax advice. For specific guidance, consult your tax professional.
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