If you're an independent (not W2), have 10 clients, and each client paid
you $10,000 in 2015, I *presume* you would pay your quarterly withholding
based on that income. Let's say you get 1099s from only three of them, so
the IRS is informed that you received $30,000 via 1099 reporting. I would
think the IRS would easily raise an audit flag when they see $30,000 in
1099 income and your quarterly payments total $25,000. Unless you know
ahead of time which clients aren't going to issue 1099s.
Unless I'm just not understanding something, that seems like a kind of fire
I wouldn't play with.
- Dan
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