Question

I am self-employed, but was employed first six months of this year. I have not received my W2 form yet from my former employer. How do you file my taxes before Jan 15?

Forum|Forum|5 years ago
January 6, 2021
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TurboTax Self Employed Online

Employee

You don’t. You can’t file your tax return until you have your W-2, and your employer is not required to issue until until January 31. Also, the IRS will not even open e-filing until January 27. Even if TurboTax opens e-filing early, those returns will only go into cold storage until the IRS opens. If you need to make a quarterly estimated payment by January 15, you can do that at the IRS website www.irs.gov/payments. Be sure to include payment on your tax return to get credit for it and if you overpay, you will get a refund.

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userjoukje-baurAuthor

Thank you for your response, very helpful!

Can I also use turbo tax for these quarterly payments or do I have to file directly with the IRS?

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Opus 17

Employee

When you were self-employed you were required to make quarterly estimated tax payments on April 15, June 15, September 15, and January 15. Then when you file your tax return, you get credit for the estimated payments and if you owe more tax than you paid, you pay additional when you file, and if you owe less tax than your estimated payments, you get a refund.

turboTax is only designed to do end of the year tax computations, it is not designed to do quarterly estimated payments for self-employment. For that, you need a business software program like QuickBooks. QuickBooks will look at your business income and expenses, calculate your profit, and give you a quarterly estimate that you can pay online or by mailing a check. Of course, there may be other equally good small business finance programs not owned by Intuit.