Question:
I was hired as a summer intern and am being paid as a contractor. Do I just pay all my taxes in the Spring after filing for them? Or do I need to pay the government quarterly? (even though it is just a 3 month job, not ongoing) I do not want to have to pay penalties later because I didn't know I needed to pay quarterly. And how do you pay quarterly? Do you claim those later on?

Answer:
Whether you pay your taxes quarterly or yearly is based upon numerous things such as your total overall earnings, interest income, other income from any other jobs during the year, etc. You can go to the IRS website and your State's website to download the Estimated Payment Vouchers/Forms. The IRS also has a worksheet that you can fill out as part of the instructions for the form that will give you further direction as to whether you should/need to pay any quarterly estimated taxes. Depending upon your tax bracket you may only have to pay FICA taxes.

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