Tax guide

Do I have to pay quarterly taxes?

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Quarterly estimated taxes are generally paid by people who have self-employment income or any other income that doesn’t have taxes withheld. Quarterly estimated taxes function like withholding to make sure enough tax is paid throughout the year to avoid tax underpayment penalties.

If you receive income that hasn’t been taxed and you expect your taxes on that income to be $1,000 or greater, you generally should make quarterly estimated tax payments.

To figure out your tax liability, use our Tax Calculator or walk through the IRS worksheet on estimated taxes.

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