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Quarterly Taxes if No income

If I make no income, do I need to submit the form to the IRS or only when I start making an income?

1 Comment
QuickBooks Team

Re: Quarterly Taxes if No income

Hello, @pianoj88.

 

You'll not pay anything on a quarterly basis if you have 0 income. However, you'll still need to submit your Schedule C form at the end of the year. Let me provide you with some information on how estimated quarterly taxes work.

 

QuickBooks Self-Employed calculates the estimated taxes based on these three factors:

  • Your self-employment income and deductions
  • Projections
  • Your tax profile or tax setup

To learn more about the calculations of your estimated taxes, here are great resources that you can check:

Keep me posted if you have other questions. I'm always here to help.

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