Hi! I have a side gig (well several) and I will ne...
cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
New Member

Hi! I have a side gig (well several) and I will need to make quarterly tax payments. Will the IRS let me make payments every week? Thx

 
4 Replies
Highlighted
Level 15

Hi! I have a side gig (well several) and I will need to make quarterly tax payments. Will the IRS let me make payments every week? Thx

You should only make them quarterly. Put the amount you want to pay each week in a savings account and then take it out quarterly to pay the estimated taxes to the IRS. For 2020, you are not required to make your first two quarterly payments until July 15 although you can make them earlier if you want to. 

Highlighted
New Member

Hi! I have a side gig (well several) and I will need to make quarterly tax payments. Will the IRS let me make payments every week? Thx

Thank you for your help!! I didn’t do my side gigs for the first quarter. Just make a quarterly payment for the second quarter based on the income I have earned so far?

Highlighted
New Member

Hi! I have a side gig (well several) and I will need to make quarterly tax payments. Will the IRS let me make payments every week? Thx

Highlighted
Level 15

Hi! I have a side gig (well several) and I will need to make quarterly tax payments. Will the IRS let me make payments every week? Thx

Yes you can make a second quarter payment by July 15 for taxes you think will be owed based on your 2nd quarter income. 

 

You can use the TurboTax TaxCaster to help you decide how much estimated tax to pay: https://turbotax.intuit.com/tax-tools/

 

Don't forget your state taxes if you have a state income tax. 

Privacy Settings