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Nellie 08:09 AM 11-14-2011
I'd go to an accountant. I looked it up and and it said every self employed person needs to file a tax return and make estimated payments. My husband in some years has worked a normal job too and he had extra taken out, but according to what I read that in some cases EVEN if you are getting a return that you may be penalized for underpayment, not making payments in a timely matter, ect. We could have been penilized for that. We have never made estimated payments and have never been penalized, and I don't know why. I don't make much and with the way my husbands work is he doesn't make a profit until the last quarter and we are doing are tax return as soon as we can, but this is what the IRS says about the last payment due on Jan 17th You do not have to make this payment if you file your 2011 tax return by January 31, 2012, and pay the entire balance due with your return.
. But I know that we haven't paid our taxes that early. I don't know why we have never been penalized. Time for me to go to an accountant. Here is the Website for the Estimated Tax for Individuals http://www.irs.gov/pub/irs-pdf/f1040es.pd
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