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This year I lost a job. After some legal work, my employer and I decided to separate. In return for not taking legal action against them, I received a check for $30,000. My lawyer believes that this is all considered nonwage income, not subject to social security taxes. He believes it is subject to regular taaxes. My quesition is this: Do I need to pay estimated taxes this quarter on it? How does one pay estimated taxes? My income is between 80K and 125K.
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