I am trying to learn more/understand better my new tax situation as an independent consultant, and was hoping someone could help me with the following questions:
1. How do I compute my Net Earnings From Self-Employment (NESE)? What calculation is used?
2. Since I am excluded from Federal and State tax (my tax domicile is TX) for my foreign-earned income amount (I estimate it would be $87,500 for 2011) - can you break down how I can get the estimated tax payment amount for 2011? [more inside]
posted by bbhart113
on Sep 10, 2011 -
I can't pay my taxes right now, but according to the IRS's information form on payment plans, if I can pay within 120 days I don't need a installment plan -- which would charge interest. The form requests that I call the IRS to notify them and get more information. However, I haven't been able to get through on their phone line for the last week, and now it's the 15th. What should I do? [more inside]
posted by foxy_hedgehog
on Apr 15, 2009 -