I’m a new 1099 employee and have quarterly payments set up to the IRS. Can I delay payments until the end of there year without penalty? I would prefer not to pay taxes under this current admin until I have to.
I’m a new 1099 employee and have quarterly payments set up to the IRS. Can I delay payments until the end of there year without penalty? I would prefer not to pay taxes under this current admin until I have to.
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I’m a new 1099 employee and have quarterly payments set up to the IRS. Can I delay payments until the end of there year without penalty? I would prefer not to pay taxes under this current admin until I have to.
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The IRS says you need to estinate your first year
https://www.irs.gov/businesses/small-businesses-self-employed/self-employed-individuals-tax-center#payments
This is not an effective way to protest because no one that matters will know why you’re doing it, and they can’t distinguish it from a single person just trying to avoid taxes, and they won’t care if they come knocking.
yes you need to pay quarterly taxes, you will get penalized for it if you don’t. protest a different way, why on earth would you protest in a way that will hurt your wallet even more?
> Generally, if you determine you need to make estimated tax payments for estimated income tax and estimated self-employment tax, you can make quarterly estimated tax payments or pay all of the amount due on the first quarterly payment due date.
it is literally written on the IRS website
This is a great question for your CPA. Get one. They cost about the same as e-filing and will keep you from doing stupid things.