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Hello, if I earn interest income in addition to my regular employee income - am i required to pay Taxes quarterly then? Thank you!

 
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Phillip1
New Member

Hello, if I earn interest income in addition to my regular employee income - am i required to pay Taxes quarterly then? Thank you!

For individuals who are US citizens or residents, you would be required to pay quarterly estimated tax payments in the year after you file a tax return with a balance due on your tax return. 

Simply earning interest income doesn't create a quarterly tax payment requirement.

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1 Reply
Phillip1
New Member

Hello, if I earn interest income in addition to my regular employee income - am i required to pay Taxes quarterly then? Thank you!

For individuals who are US citizens or residents, you would be required to pay quarterly estimated tax payments in the year after you file a tax return with a balance due on your tax return. 

Simply earning interest income doesn't create a quarterly tax payment requirement.

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