Income taxes are a pay-as-you-go system. That means you pay your taxes as you earn income during the year. Either your employer withholds taxes from your pay, or you pay quarterly estimated taxes on your own.

If you have income that’s not subject to withholding, you may need to make quarterly payments. This includes income such as self-employed income, interest, dividends, prizes, and rental income. It may also include income earned from gig work. Generally, all this income is taxable, even if you don’t receive an income statement form such as a W-2 or 1099.

Learn more in this IRS video.