If you are a professional who is likely to receive income that is not subject to withholding,then you are required to _____.

Question

Quizplus · Accepted Answer

If you are a professional who is likely to receive income that is not subject to withholding, such as self-employment income or income from investments, you are required to pay an estimated tax. This means you have to calculate and pay the estimated tax owed on a quarterly basis throughout the year. Failing to do so could result in penalties and interest charges when you file your tax return.

If You Are a Professional Who Is Likely to Receive