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Last edited by legallyblonde502; 06-11-2014 at 07:51 PM.





Normally estimated quarterly tax payments are for independent contractors, not employees, for federal tax purposes.
Last edited by slowpoke; 11-08-2013 at 02:00 PM. Reason: qu

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Last edited by legallyblonde502; 06-11-2014 at 07:50 PM.





There are two different sets of estimated tax withholding procedures, depending on whether or not you are considered to be an 'employee' ( receiving a weekly paycheck, with estimated taxes withheld and sent to the IRS by your 'employer'), or considered to be an independent contractor business operator ( no paycheck, just cash payments - where you are required to file estimated tax vouchers and send in estimated tax checks to the IRS on a quarterly basis ).




The fines for not paying quarterlies on miscellaneous or business income are pretty modest. IF you made a ton of money in that month you can pay on an estimated tax voucher anytime, as the fine is based on when the quarterly was due[april 15th in this case]
If you did not make a ton of on the books money, or if you had significant W2 income and tax withholding I would not worry about it.
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