FREQUENTLY ASKED QUESTIONS
Simple answers to common concerns
Do self-employed (1099) individuals have a requirement to submit tax payments every quarter? When are the quarterly estimated tax payments due?
Yes, every self-employed (1099) individual is responsible to pay their taxes every quarter (total of 4 quarters) throughout each tax year. For more information, call the TEC’s at 833-829-8327.
When to Pay Estimated Taxes
January 1 – March 31 due April 15 (1st quarter)
April 1 – May 31 due June 15 (2nd quarter)
June 1 – August 31 due September 15 (3rd quarter)
September 1 – December 31 due January 15* of the following year (4th quarter)
Can I receive my future federal and state tax refunds if I am currently on a payment plan with the IRS and the State for my back taxes?
No, one of the terms of the installment agreement is that the IRS and State will automatically apply any refund due to you against taxes you owe. For more information call the TEC’s at 833-829-8327.
I owe the IRS for 6 years, and I am unable to pay my taxes. Will the IRS forgive my tax liability?
If eligible, you may qualify for an Offer-in-Compromise (OIC) which is a tax settlement. For more information, call the TEC’s at 833-829-8327.
Will I still be charged interest once a payment plan has been established?
Yes, interest accrues on any unpaid balance due daily from the due date of the return (without regard to any extension of time to file) until you pay the balance in full. For more information, call the TEC’s at 833-829-8327.