How do I know if I need to pay quarterly taxes? [Archive] - Chefsuccess.com a Community for Pampered Chef Consultants

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pc_momof3

03-23-2009, 10:37 AM

Hello,
I'm wondering how you know if you need to pay quarterly taxes or not. We have more than we need taken out and get a large refund so that has been more than enough to cover what I owe for self-employment tax. Is that good enough if we're not owing anything to the IRS? How do you know?
TIA!
Angie

pkd09

03-23-2009, 10:39 AM

I believe the IRS will let you know via letter.

DebbieJ

03-23-2009, 03:29 PM

contact an accountant.

cheflk

04-17-2009, 05:15 PM

I heard from an accountant the other day that if you owe more than $5K at tax time the IRS will have expected you to have been filing quarterly. I agree ... contact your accountant!

lk