Under the standard calendar, Q2 ends on June 30, covering April, May, and June. That answers the plain question of when does Q2 end, but it’s only half the picture: the federal government runs its own fiscal calendar, and several of the tax deadlines people associate with “the end of Q2” actually fall earlier in the quarter or well after June 30.
The June 30 Calendar Date
For most businesses and individuals working from the Gregorian calendar, the second quarter runs April 1 through June 30. June 30 is the cutoff used for quarterly earnings, mid-year performance milestones, and many commercial contract deliverables. Missing a June 30 deliverable in a business contract can expose you to breach-of-contract claims or liquidated damages, and employment agreements often tie bonus calculations to this same date.
June 30 is a boundary, not a filing deadline in itself. The tax and reporting dates tied to Q2 sit on their own schedule.
Federal Fiscal Q2 Ends March 31
The federal government’s fiscal year begins October 1 and ends the following September 30.1Office of the Law Revision Counsel. 31 USC 1102 – Fiscal Year Because the clock starts three months before the calendar year, federal Q2 runs January 1 through March 31, a full quarter ahead of the calendar version.
The offset matters most for government contractors and grant recipients. Federal agencies typically need to obligate funds and meet spending benchmarks by the end of each fiscal quarter, so contractors doing business with the government often track both the federal fiscal calendar and their own calendar-year books.
Estimated Tax Payments Are Due June 15
If you’re self-employed or earn income that isn’t subject to withholding, your second estimated tax payment is due June 15, not June 30. The four installments fall on April 15, June 15, September 15, and January 15 of the following year. The estimated tax requirement applies to anyone who expects to owe $1,000 or more after subtracting withholdings and credits.2Office of the Law Revision Counsel. 26 USC 6654 – Failure by Individual to Pay Estimated Income Tax
Payments can go through IRS Direct Pay, the Electronic Federal Tax Payment System, or by mailing Form 1040-ES.
Calendar-year corporations share the June 15 deadline for their second installment.3Office of the Law Revision Counsel. 26 USC 6655 – Failure by Corporation to Pay Estimated Income Tax Corporate installments fall on April 15, June 15, September 15, and December 15. The fourth date differs from the individual schedule.
Safe Harbor Rules
You avoid the underpayment penalty if your payments cover at least 90% of your current-year tax liability or 100% of the tax shown on your prior-year return, whichever is smaller.4Internal Revenue Service. Underpayment of Estimated Tax by Individuals Penalty If your adjusted gross income for the prior year exceeded $150,000 ($75,000 if married filing separately), the 100% threshold climbs to 110%.
Corporations can also base each installment on 25% of the previous year’s tax liability. Large corporations, defined as those with taxable income of $1 million or more in any of the three preceding tax years, cannot use this method after the first installment and must base later payments on current-year estimates.
What the Penalty Looks Like
Missing June 15 triggers an underpayment penalty based on the shortfall amount, the IRS’s quarterly interest rate, and how long the payment stays overdue.2Office of the Law Revision Counsel. 26 USC 6654 – Failure by Individual to Pay Estimated Income Tax For the first quarter of 2026, the IRS underpayment rate is 7%.5Internal Revenue Service. Quarterly Interest Rates The rate resets each quarter based on the federal short-term rate.
Form 990 Is Due May 15
Calendar-year tax-exempt organizations must file Form 990 (or Form 990-EZ or 990-N, depending on size) by May 15, in the middle of Q2.6Internal Revenue Service. Exempt Organization Filing Requirements – Form 990 Due Date Filing Form 8868 by May 15 grants an automatic six-month extension, pushing the deadline to November 15.7Internal Revenue Service. Instructions for Form 8868 The extension gives you more time to file but does not extend the time to pay any tax owed.
An organization that fails to file for three consecutive years automatically loses its tax-exempt status under federal law.8Internal Revenue Service. Automatic Revocation of Exemption Once revoked, the organization owes federal income tax on its earnings and can no longer receive tax-deductible contributions. Reinstatement means reapplying from scratch.
Payroll Filings That Close Out Q2
Employers file Form 941, the Employer’s Quarterly Federal Tax Return, for the second quarter by July 31, since the form is due the last day of the month following the quarter’s end.9Internal Revenue Service. Instructions for Form 941 The return reports income tax withheld from employee wages along with the employer and employee shares of Social Security and Medicare taxes.
If federal unemployment tax (FUTA) liability exceeds $500 for the year, quarterly deposits are required, and the Q2 FUTA deposit is also due by July 31.10Internal Revenue Service. Topic No. 759 – Form 940 Filing and Deposit Requirements If quarterly FUTA liability is $500 or less, you carry it forward and deposit once the cumulative amount crosses $500.
Filing Form 941 late triggers a failure-to-file penalty of 5% of the unpaid tax per month, capped at 25%.11Internal Revenue Service. Failure to File Penalty Late deposits carry a separate graduated penalty that reaches 10% once the deposit is more than 15 calendar days late, and 15% if the tax remains unpaid within 10 days of an IRS notice.12Internal Revenue Service. Failure to Deposit Penalty
10-Q Filings for Public Companies
Publicly traded companies on a calendar fiscal year end their second quarter on June 30, but the quarterly report (Form 10-Q) is due afterward. Timing depends on filer size:
- Large accelerated filers and accelerated filers: 40 days after quarter-end, or August 9 for Q2.
- Non-accelerated filers: 45 days after quarter-end, or August 14 for Q2.
These deadlines come from SEC regulations governing periodic reporting by issuers.13GovInfo. 17 CFR 240.13a – Securities and Exchange Commission A company that cannot meet its deadline may file Form 12b-25, sometimes called NT 10-Q, which allows an additional five calendar days.
Weekend and Holiday Shifts
If any federal tax deadline falls on a Saturday, Sunday, or legal holiday in the District of Columbia, it moves automatically to the next business day.14Internal Revenue Service. Publication 509 – Tax Calendars For 2026, June 15 falls on a Monday, so the estimated tax deadline does not shift. Check the calendar for your filing year, because even a one-day change can affect penalties calculated daily.
State Deadlines May Differ
Most states with an income tax align their second-quarter estimated payment deadline with the federal June 15 date. A small number use June 30 or another date. If you make estimated payments to your state, check your state’s department of revenue for the exact due date each year, since state deadlines can shift independently of the federal calendar.