Molly
11-14-2008, 07:20 PM
I got this from another site.
Maybe Mr. Katz could go into more details if this is true,
the way it is stated.
Many truckers who do not pay their estimated income taxes on a quarterly basis and prefer to wait until the end of the year are often surprised to find out that they have been charged penalties by the IRS. The point here is that as a self-employed individual you are required to make quarterly estimated payments. This is not an option! The IRS want to get their money on a timely basis throughout the year and so they have set up a method of paying estimated taxes four times a year. First quarter estimate is due April 15, second quarter estimate is due June 15, third quarter estimate is due September 15, and the fourth quarter estimate is due January 15. If you do not adhere to this schedule, you are subject to penalties for any underpayment of your taxes. If you are unable to pay the full amount set up by your tax preparer, pay as mush as you can instead of not paying at all.
Maybe Mr. Katz could go into more details if this is true,
the way it is stated.
Many truckers who do not pay their estimated income taxes on a quarterly basis and prefer to wait until the end of the year are often surprised to find out that they have been charged penalties by the IRS. The point here is that as a self-employed individual you are required to make quarterly estimated payments. This is not an option! The IRS want to get their money on a timely basis throughout the year and so they have set up a method of paying estimated taxes four times a year. First quarter estimate is due April 15, second quarter estimate is due June 15, third quarter estimate is due September 15, and the fourth quarter estimate is due January 15. If you do not adhere to this schedule, you are subject to penalties for any underpayment of your taxes. If you are unable to pay the full amount set up by your tax preparer, pay as mush as you can instead of not paying at all.