I am on an F1 visa and am on OPT(17 month STEM Extension) hired as an independent contractor (1099). It has been exactly 2.5 years since I came to the US. Do I have to pay quarterly taxes ?
Thanks,
Abhishek

If 2009 is the FIRST year you are being paid as an independent contractor, you will NOT be penalized for not paying quarterly estimated taxes.

However, starting in 2010, you DO have to file quarterly estimated taxes using Form 1040-ES, filing on 15 April, 15 June, 15 September 2010 and 15 January 2011.

You will file Form 1040-NR, Form 8843 and schedule C or C-EZ (Form 1040) to report your 1099-misc income and expenses. Your 1099-misc income is not subject to SE tax so you do not file schedule SE.