How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Robin D. Your Own Question
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15323
Experience:  15years with H & R Block. Divisional leader, Instructor
14155347
Type Your Tax Question Here...
Robin D. is online now
A new question is answered every 9 seconds

I worked as an independent consultant for only about 2 months

This answer was rated:

I worked as an independent consultant for only about 2 months in April and May while also receiving severance and thus paying income taxes. Then I procrastinated and did not file any estimated taxes for the extra income during April and May. I'm not quite sure what to do now. Do I use the "annualized income installment" method with my 2013 return? Or do I make late estimated tax payments for both the June and September dates at this point and pay the penalty?

Robin D. :

Hello and thanks for trusting me to help you today. I am a tax adviser with over 15 years of experience.
You cannot make the payments late and have them count for that time. You would use the annualized income installment method.
You may be able to lower or eliminate your penalty by figuring your underpayment using the annualized income installment method.

Customer:

So, I should not do anything now, but just include those forms with my 2013 return, right?

Robin D. :

That is correct

Customer:

Thank you!

Robin D. :

You are most welcome

Robin D. :

Your positive rating is always thanks enough.

Robin D. :

If you’re a subscription customer, feel free to add me to your Preferred Expert Team so we can work together in the future

Robin D. and other Tax Specialists are ready to help you