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Hi I need to send a memorandom for this information.


Ima Ernenbiggdoh, a twenty-five-year-old,

unmarried Seattle, Washington, resident earns approximately $50,000 per year as an Amazon employee. She has correctly had all applicable taxes withheld from her Amazon earnings to date and will continue to do so for the remainder of the year.

On February 1, 2019, Ima was paid $500,000 as an independent contractor for computer consulting work that she provided to CompCorp from January 1, 2019 through January 31, 2019. There is no issue regarding whether Ima is an independent contractor (you may assume that she is). CompCorp did not withhold any taxes from Ima's earnings, and Ima has not paid any estimated taxes during 2019. 

Ima would like for you to make a memorandum that addresses the federal tax consequences of her earnings with CompCorp, including (but not limited to) whether she owes estimated taxes, and if she does, when they are due and how to pay them. If there are any issues related to the late payment of these taxes, she would like to know the federal tax consequences of late payments, as well.

 

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