Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Thanks in advance for any help.

I miscalculated 2011's taxes and will be getting a large (waaaay too large) refund. OTOH, better that than to miss the safe harbor.

2012 will be the first year that I am working as an independent contractor & therefore need to deal with taxes myself. I know that I need to do quarterly taxes. My question is can I use the refund as the 1st quarter's payment? Or am I going to have to take it as a refund and then turn around and send in my payment?

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.