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Message: [QUOTE="Kolumbo, post: 3948601, member: 4613"] Income tax is pay as you go and it's easy if you are a W-2 employee and your employer is withholding your taxes. Self-employed people have to make their own estimated income tax payments and many who don't bother with accurate estimates often owe penalties and interest at the end of the year. The easy fix is have the new company's payroll department enter YTD earnings and withholdings based on reports from the prior payroll department. It's standard practice. [/QUOTE]