Freelancing, PayPal: big tax mistake?

[xeitgeixt2]

How does a freelancer with a full time job report income made via PayPal? Is this quarterly or yearly?

If the freelancer must pay quarterly- but actually missed all dates to file (per quarter)- can the freelancer still report extra income when its time to file the regular, annual tax return?

 

[FlyingRon]

Yes, you just pay a penalty. It's actually not that big of a hit. Further, you probably qualify for the penalty being waived if you properly paid and filed last year.