Who is required to file quarterly taxes?
If you work as a self-employed individual or small business owner, you likely need to pay quarterly estimated taxes.
- If you expect to owe more than $1,000 in federal taxes for the tax year, you may need to make estimated quarterly tax payments using Form 1040-ES, or else face a penalty for underpayment.
Paying your taxes quarterly can avoid the cash crunch you might face come tax time. Paying in quarterly installments can make paying easier than one lump sum.
Here are further details:
https://turbotax.intuit.com/tax-tips/self-employment-taxes/a-guide-to-paying-quarterly-taxes/L6p8C53...
https://turbotax.intuit.com/tax-tips/small-business-taxes/estimated-taxes-how-to-determine-what-to-p...
If your question is regarding payroll taxes here is link that should provide clarification: https://quickbooks.intuit.com/learn-support/en-us/help-article/tax-payments/pay-file-payroll-taxes-f...
Have an amazing day. Evelyn M (CPA 20+ years)
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