Quote:
Originally Posted by McLovin
Are they still going to be looking for a 1040-ES, and some payment, each quarter? Will I be penalized for not filing and paying each quarter?
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You can pay the entire amount all at once if you feel like it but it should be paid in 4 payments, each with that quarters voucher according to my accountant. It shouldn't matter and it probably doesn't but come audit time it'll be a heck of a lot easier to explain things with the correct paperwork.
Now state taxes are another thing all together. Where I live quarters are treated like federal years in that you have to file your entire taxes, with 1040's for each quarter and they don't make future quarters available at the beginning of the year so you have no choice but pay quarterly. It's b.s. but part of the game.