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IRS.
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So, I returned home from NYC yesterday and brought in the mail.
...a letter from the IRS.
...knots in my stomach.
They informed me I need to pay estimated income taxes because I am employed as an 'independent contractor.'
Independent contractor?
WTF is that?
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Posted on : Feb 13, 2018
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Add Comment
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Commented on Apr 9, 2018
Did you have 1099 form?
IC is when you work for some body NOT as an employee.
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Commented on Feb 19, 2018
You need to file QUARTERLY returns because you are declaring too much income as other sources, likely, on your regular forms. IRS doesn't care what you do as long as you pay them upfront. My copy-editing daughter has been a free-lancer (as you are too) and called me up 1 year and said WTF? And I said, get an accountant.
Perhaps one of your clients could make a recommendation, knowing some one discreet, say? Regardless of how the revised tax code works out for 2018, you are better off establishing a quarterly program even now under last year's terms until you get a revised notifications.
DO NOT PUT THIS OFF. I still know the precise amount of the check I had to write because I was in a major depression when it all happened. Penalties add up, luciousness.
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Commented on Feb 13, 2018
Mike,
You may soon be getting screwed in a manner that you won't like.
I hope the best for you.
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Commented on Feb 13, 2018
Self employed! If you need an accountant honey I'm right here - except I only do UK taxes so you'll need an american one x
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