Hi,
I have a W2 for a $130k/yr salary and I have standard deductions. I am also a 1099NEC that pays between $5k-$30k/year. Should I make quarterly estimated tax payments on my 1099NEC side gig to the IRS and/or CT DRS? If so, how much do I need to pay? Also, if I do not pay quarterly estimated tax payments, would the IRS/CT DRS levy any penalties or would I need to reconcile at the end of the year?
