According to the internal revenue service, [federal estimated tax payments are due on this schedule](http://www.irs.gov/publications/p505/ch02.html#d0e7559): - April 15 - June 15 - September 15 - January 15 (of the next year) June is only two months after April. I would expect estimated tax payments to be evenly spaced three months apart. Why are estimated taxes for the second and third quarter due a month earlier than I would expect? (I would expect July and October.) I usually bill my clients at the end of the month. In June, taxes are due for the 3rd quarter, but I haven't even received the June payments yet. Do I owe taxes at that time on the money that I expect to receive that quarter, but which hasn't actually come in yet?