Can TurboTax help me pay my taxes quarterly if I am self-employed?

Forum|Forum|7 years ago
June 7, 2019
1 reply
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Soon I will be working for a company as an independent contractor that works from home. I believe this qualifies me as self-employed and as such will require that I pay the IRS taxes quarterly. So, my question is whether or not TurboTax has something that can assist me with this? Like can I put in how much money they have paid me and then turbotax can tell me how much money I am expected to send to the IRS every couple months? Or even better if I pay for TurboTax will they act as a go-between and send the money for me?

TurboTax Free Edition Online

Irene2805

Level 15

TurboTax can assist you in calculating quarterly estimated tax payments and will prepare vouchers (Form 1040-ES) for you to print. You cannot make the payments through TurboTax, however there are several options for making these payments.

To calculate estimated payments, please follow these steps:

1. Click on Federal Taxes > Other Tax Situations

2. On the screen, Let's check for any uncommon tax situations, in the Other Tax Forms section, click on the Start/Revisit box next to Form W-4 and Estimated Taxes.[See Screenshot #1, below.]

3. On the screen Adjust How Much Tax You Pay click the No box. [This is for withholding from a paycheck.]

4. On the next screen, Estimated Taxes for 2017, click the Prepare Now box. [Screenshot #2]

5. On the Review Your Estimates for 2017 screen TurboTax will display 2017 quarterly estimates based on your 2016 income. If you think your 2017 financial picture will differ, click on the Yes box to adjust your income or deductions. [Screenshot #3]

6. Continue through the screens, entering the requested information. TurboTax will then calculate your quarterly estimated payments for 2017.

Please see the following FAQ for more great information about making estimated payments to the IRS: https://ttlc.intuit.com/replies/3301891