My spouse brings in a 1099 under an LLC I formed of which I am the only member. Do we need to file quarterly taxes?

[james-r-carr]

Okay so just so that I understand, while I need to make the payment today I don't actually file until end of year. Is that correct?

[Opus 17]

Correct, all you have to do is make a payment under your spouse's SSN.  If you want to mail a check, you can use the tear-off voucher on the last page of form 1040-ES.  If you make the payment online, be sure to select that it is for third quarter 2016 1040-ES.

At this stage the IRS only wants their money. There are various forms and methods of calculating the estimated payment needed, but all of that is just an estimated.  Your tax return that you will prepare in March or April will list all your income, all your deductions, calculate your tax, account for all your withholding and payments, and tell you if you owe more or get a refund.  That will be the definitive word on what you owe for the year.

[Opus 17]

I don't think the bank account will be a large issue.  It is possible and legal to run a schedule C business using only a single business/personal account, although that certainly makes bookkeeping more difficult, and I would always recommend having separate business and personal bank accounts and credit cards whenever possible.

If this is a one-shot, transfer the money into your personal account and forget about it.  The IRS probably won't come looking and if they do, show them the proof this was a clerical error.  If your wife might have more contracts in the future, or to clean up the bookkeeping on this one, open an account in her own name with either an EIN or her SSN and transfer the money.