Any time you earn money, whether it’s from a full-time job or interest on a savings account, the IRS is bound to want its share. But while salaried employees have taxes withheld from their paychecks automatically, those who are freelance or self-employed need to take matters into their own hands. If you don’t lose a portion of your earnings to taxes when you get paid, then you’re required to make quarterly estimated tax payments to the IRS throughout the year.