Make estimated tax payments on a quarterly basis. Your gig income is subject to self-employment tax of 15.3% as well as ...

Filing your taxes for the first time? Here’s everything you need to know, including the necessary forms, how to report your ...

You can estimate your tax liability by using the Estimated Tax Worksheet on Form 1040-ES or using tax software [0] If you can't afford your entire tax bill, the IRS recommends paying what you can ...

Lawmakers adopted the Tax Cuts and Jobs Act (TCJA) of 2017 and it represented the most significant tax policy overhaul since ...

The IRS is always on the lookout for tax returns that just don't make sense. Making these five errors can increase the ...

The IRS has established some reporting rules for income that's received on P2P payment platforms such as Venmo including thresholds at which you must report.

Filing your own tax return is less expensive but a CPA can defend you if the IRS has a problem with your return. Your choice can depend on the complexity of your income.

The amounts and types of interest impact which tax form is to be used. Taxpayers who receive over $1,500 of taxable interest must list all of their payers on Part 1 of Schedule B on Form 1040.

15 (for income earned June 1 to Aug. 31) Here are some common tax forms independent contractors can expect to deal with: Form 1040-ES: Use this form to calculate and make quarterly estimated tax ...

The worksheet in IRS Publication 505 can help. Then submit Form 1040-ES with your payment. You don’t need to be precise, but you’ll want to pay enough to try to avoid an underpayment penalty.