cyberprosper - 3:28 am on Oct 16, 2003 (gmt 0)

Get some good tax software to do your taxes with or get an accountant.

You will not have to pay any penalties. Pay your taxes by the 15th. After that, though, you will have to pay quarterly. If this is a part time source of income, you can elect to have your full-time employer withhold more from your paycheck next year (or this year too).

You are going to hate doing your taxes. If you are making a lot of money, you will see how unfairly the tax system in the U.S. really is. Just think, if you are lazy and do not contribute to society, you are taxed at 15%. If you try to make something of yourself, the Man still tries to keep you down by taxing you 38%.