You are required to make tax payments on a quarterly basis, known as Estimated Tax Payments, if you have any income that isn't subject to withholding, such as net income from a business or investment income. You may be penalized if estimated payments and withholding from wages do not come within a certain percentage of your owed taxes. Taxpayers with an adjusted gross income of more than $75,000 or married couples with joint AGIs totaling more than $150,000 are subject to higher Estimated Tax Payments.