11/11/2023 0 Comments Personal bartender gifEstimated Tax for Nonresident Alien Individualsįor comprehensive information on paying estimated tax including exceptions, the underpayment penalty and methods to figure amount of payment, review Publication 505, Tax Withholding and Estimated Tax. Form 1040-ES, Estimated Taxes for Individuals.How to estimate - Use one of these forms to figure your estimated taxes: How to pay - Pay online or by mail or phone (refer to Form 1040-ES). Note: If these due dates fall on a Saturday, Sunday or legal holiday, the payments are due the next business day. January 15 for payment period September 1–December 31.September 15 for payment period June 1–August 31.June 15 for payment period April 1–May 31.April 15 for payment period January 1–March 31.When to pay - Estimated tax payments are due four times a year: ![]() Then fill out a new Form W-4, Employee’s Withholding Certificate and give it to your employer. You can avoid a penalty by paying enough tax on time.ĭo you work as an employee and do gig work on the side? You may avoid making estimated tax payments on your gig income by withholding more tax from your employee paycheck. If you earn money for gig work as an independent contractor, you may have to pay quarterly estimated taxes. Here's how to manage taxes for gig work as an independent contractor (self-employed): Note: This list does not include all types of gig work.
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