June 15 Q2 estimated taxes due — pull your payroll reports now

Panko Alerts · June 13, 2026

Your Q2 estimated income taxes are due June 15, and underpayment penalties hit fast if you're short. Pull your April-May P&L and payroll reports this week to calculate what you owe, especially if your spring sales spiked above last year's projections. Set aside 25-30% of net profit for federal and state estimated payments, and remember Illinois requires separate quarterly filings. IRS Form 1040ES and Illinois Form IL-1040ES, due June 15, 2026.

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Source: Panko Alerts