If you receive Social Security benefits, required minimum distributions (RMDs), pension income, or investment gains, today — June 16, 2026 — is the deadline to pay your second-quarter estimated taxes to the IRS. Missing it means an automatic penalty, even if you end up getting a refund when you file your full return in April. The good news: it takes about 15 minutes to pay online at IRS Direct Pay (irs.gov/payments), and you can do it right now before you finish your morning coffee.

Why does the Q2 estimated tax deadline matter for retirees?

Most working Americans have taxes withheld from every paycheck automatically. Retirees often don’t. When your income comes from Social Security, a pension, retirement account withdrawals, dividends, or rental property, nobody is automatically setting aside your tax bill for you — unless you’ve asked them to.

The IRS requires you to pay taxes as you earn money throughout the year, not just in April. If you owe more than $1,000 in federal tax when you file, and you haven’t been making quarterly payments, you’ll likely face an underpayment penalty. The IRS charges that penalty quarter by quarter, so missing today’s Q2 deadline costs you real money even if you catch up later.

How do I make my Q2 estimated tax payment right now?

The fastest way is IRS Direct Pay at irs.gov/payments. It’s free, secure, and you can use your checking or savings account. Select “Estimated Tax” as the reason for payment and “2026” as the tax year. You’ll need your Social Security number, your prior-year adjusted gross income (it’s on last year’s tax return — look for line 11 on Form 1040), and your bank routing and account numbers.

If you prefer to mail a check, make it payable to “United States Treasury,” write your Social Security number and “2026 Form 1040-ES” on the memo line, and mail it to the address listed in the Form 1040-ES instructions for your state. Mail postmarked today still counts.

Not sure how much to pay? A simple safe-harbor rule: pay at least 25% of last year’s total federal tax bill across each of the four quarters, and the IRS won’t penalize you — even if you end up owing more in April.

How much of Social Security income is actually taxable?

This surprises a lot of retirees. Up to 85% of your Social Security benefit can be taxable at the federal level, depending on your “combined income” — that’s your adjusted gross income, plus any tax-exempt interest, plus half of your Social Security benefits added together.

  • If your combined income is below $25,000 (single) or $32,000 (married filing jointly), none of your Social Security is taxed.
  • Between $25,000–$34,000 (single) or $32,000–$44,000 (joint), up to 50% may be taxable.
  • Above those thresholds, up to 85% is taxable.

Those thresholds have never been adjusted for inflation, which means more retirees are paying tax on Social Security every year. It’s one of the biggest reasons retirees end up owing estimated taxes they didn’t expect.

What are the RMD rules for 2025 and 2026?

Required minimum distributions — the amounts the IRS forces you to withdraw from traditional IRAs, 401(k)s, and most other pre-tax retirement accounts each year — are fully taxable as ordinary income. That makes them one of the largest drivers of estimated tax bills for retirees.

For 2026, the RMD starting age is 73 (it rises to 75 for people born in 1960 or later, under the SECURE 2.0 Act). You must take your RMD by December 31 each year (your very first RMD can be delayed to April 1 of the following year, but that means two taxable RMDs in one year — usually not worth it).

If you’re already taking RMDs, remember: the distribution counts as income in the quarter you take it. Taking a large RMD in Q3 or Q4 without adjusting your estimated payments can leave you short for those quarters.

How do I avoid Medicare IRMAA surcharges?

IRMAA stands for Income-Related Monthly Adjustment Amount — a surcharge added to your Medicare Part B and Part D premiums when your income crosses certain thresholds. The Medicare Part B standard premium in 2025 was $185 per month, but higher earners paid significantly more: up to $628.90 per month depending on income.

IRMAA is calculated using your tax return from two years prior. So your 2026 Medicare premiums are based on your 2024 income. A large Roth conversion, a one-time asset sale, or an unexpectedly high RMD year can push you into a higher IRMAA bracket and cost you thousands in extra premiums.

Strategies to manage IRMAA include:

  • Spreading Roth conversions over several lower-income years rather than converting a large amount at once.
  • Qualified Charitable Distributions (QCDs): If you’re 70½ or older, you can donate up to $105,000 directly from your IRA to charity. It satisfies your RMD but is excluded from your taxable income — and therefore doesn’t count toward IRMAA thresholds.
  • Appealing an IRMAA decision if you had a life-changing event (retirement, divorce, death of a spouse) that reduced your income. Use Form SSA-44.

When should I claim Social Security to maximise my benefit?

This is one of the most searched questions among our readers — and for good reason, because the difference between claiming at 62 versus 70 can be enormous. Claiming at 62 locks in a permanent reduction of up to 30% compared to your full retirement age benefit. Waiting until 70 earns you delayed retirement credits of 8% per year beyond full retirement age.

For someone with a $2,000 monthly benefit at full retirement age (67), that’s the difference between roughly $1,400/month at 62 and $2,480/month at 70. If you live past your early-to-mid 80s, waiting almost always wins in total lifetime dollars.

That said, the right answer depends on your health, your spouse’s benefit, your other income sources, and — importantly — how Social Security income interacts with your estimated tax picture. More Social Security can mean more taxable income, which circles right back to today’s deadline.

The bottom line: pay today, plan for Q3

Today’s Q2 estimated tax deadline is a firm deadline, not a suggestion. Fifteen minutes at IRS Direct Pay protects you from penalties and keeps your retirement income working for you rather than for the IRS. Once you’ve made that payment, pull out your calendar and mark September 15, 2026 — that’s the Q3 deadline — so you’re not scrambling again.

Small, consistent money moves like this are exactly what Silver & Cents is built around: practical steps that protect and grow what you’ve worked decades to build.

Frequently Asked Questions

When should I claim Social Security to maximise my benefit?

Waiting until age 70 gives you the largest possible monthly benefit — up to 77% more than claiming at 62, depending on your full retirement age. The breakeven point is typically your early-to-mid 80s, so if you’re in good health, delaying usually pays off in total lifetime income. Your spouse’s potential survivor benefit is another strong reason to delay if you’re the higher earner.

How much of my Social Security benefit is taxable?

Up to 85% of your Social Security can be subject to federal income tax, depending on your combined income (adjusted gross income plus tax-exempt interest plus half your Social Security). If your combined income stays below $25,000 as a single filer or $32,000 as a married couple, none of your benefit is taxed. These thresholds have never been updated for inflation, so more retirees cross them every year.

What are the RMD rules for 2026?

In 2026, required minimum distributions begin at age 73 for most retirees, rising to age 75 for those born in 1960 or later under the SECURE 2.0 Act. RMDs must be taken from traditional IRAs, 401(k)s, and most pre-tax retirement accounts by December 31 each year. Skipping or under-taking an RMD triggers a 25% excise tax on the amount you should have withdrawn.

How do I avoid Medicare IRMAA surcharges?

IRMAA surcharges are triggered when your income from two years ago exceeds certain thresholds — in 2025 those started at $106,000 for single filers. You can reduce IRMAA exposure by spreading Roth conversions across multiple years, using Qualified Charitable Distributions to lower taxable income, and appealing your IRMAA determination if you had a qualifying life-changing event using Form SSA-44.

What is the Medicare Part B premium for 2025?

The standard Medicare Part B premium in 2025 is $185.00 per month for most beneficiaries. Higher-income retirees pay more due to IRMAA surcharges, with premiums ranging up to $628.90 per month at the highest income brackets. Your premium is automatically deducted from your Social Security benefit each month if you’re already collecting.