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Www hnrblock com Publication 907 - Main Content Table of Contents IncomeDependent Care Benefits Social Security and Railroad Retirement Benefits Disability Pensions Military and Government Disability Pensions Other Payments Itemized DeductionsMedical Expenses Impairment-Related Work Expenses Tax CreditsChild and Dependent Care Credit Credit for the Elderly or the Disabled Earned Income Credit Household Employers Business Tax Incentives How To Get Tax Help Income All income is taxable unless it is specifically excluded by law. Www hnrblock com The following discussions highlight some income items (both taxable and nontaxable) that are of particular interest to people with disabilities and those who care for people with disabilities. Www hnrblock com Dependent Care Benefits Dependent care benefits include: Amounts your employer paid directly to either you or your care provider for the care of your qualifying person(s) while you worked, The fair market value of care in a daycare facility provided or sponsored by your employer, and Pre-tax contributions you made under a dependent care flexible spending arrangement. Www hnrblock com Exclusion or deduction. Www hnrblock com   If your employer provides dependent care benefits under a qualified plan, you may be able to exclude these benefits from your income. Www hnrblock com Your employer can tell you whether your benefit plan qualifies. Www hnrblock com To claim the exclusion, you must complete Part III of Form 2441, Child and Dependent Care Expenses. Www hnrblock com You cannot use Form 1040EZ. Www hnrblock com   If you are self-employed and receive benefits from a qualified dependent care benefit plan, you are treated as both employer and employee. Www hnrblock com Therefore, you would not get an exclusion from wages. Www hnrblock com Instead, you would get a deduction on Form 1040, Schedule C, line 14; Schedule E, line 19 or 28; or Schedule F, line 15. Www hnrblock com To claim the deduction, you must use Form 2441. Www hnrblock com   The amount you can exclude or deduct is limited to the smallest of: The total amount of dependent care benefits you received during the year, The total amount of qualified expenses you incurred during the year, Your earned income, Your spouse's earned income, or $5,000 ($2,500 if married filing separately). Www hnrblock com Statement for employee. Www hnrblock com   Your employer must give you a Form W-2 (or similar statement), showing in box 10 the total amount of dependent care benefits provided to you during the year under a qualified plan. Www hnrblock com Your employer will also include any dependent care benefits over $5,000 in your wages shown on your Form W-2 in box 1. Www hnrblock com Qualifying person(s). Www hnrblock com   A qualifying person is: A qualifying child who is under age 13 whom you can claim as a dependent. Www hnrblock com If the child turned 13 during the year, the child is a qualifying person for the part of the year he or she was under age 13. Www hnrblock com Your disabled spouse who is not physically or mentally able to care for himself or herself. Www hnrblock com Any disabled person who was not physically or mentally able to care for himself or herself whom you can claim as a dependent (or could claim as a dependent except that the person had gross income of $3,900 or more or filed a joint return). Www hnrblock com Any disabled person who was not physically or mentally able to care for himself or herself whom you could claim as a dependent except that you (or your spouse if filing jointly) could be claimed as a dependent on another taxpayer's 2013 return. Www hnrblock com For information about excluding benefits on Form 1040, Form 1040NR, or Form 1040A, see Form 2441 and its instructions. Www hnrblock com Social Security and Railroad Retirement Benefits If you received social security or equivalent Tier 1 railroad retirement (RRTA) benefits during the year, part of the amount you received may be taxable. Www hnrblock com Are any of your benefits taxable?   If the only income you received during the year was your social security or equivalent Tier 1 railroad retirement (RRTA) benefits, your benefits generally are not taxable. Www hnrblock com   If you received income during the year in addition to social security or equivalent Tier 1 railroad retirement (RRTA) benefits, part of your benefits may be taxable if all of your other income, including tax-exempt interest, plus half of your benefits are more than: $25,000 if you are single, head of household, or qualifying widow(er), $25,000 if you are married filing separately and lived apart from your spouse for all of 2013, $32,000 if you are married filing jointly, or $-0- if you are married filing separately and lived with your spouse at any time during 2013. Www hnrblock com   For more information, see the instructions for Form 1040, lines 20a and 20b, or Form 1040A, lines 14a and 14b. Www hnrblock com Publication 915, Social Security and Equivalent Railroad Retirement Benefits, contains more detailed information. Www hnrblock com Supplemental security income (SSI) payments. Www hnrblock com   Social security benefits do not include SSI payments, which are not taxable. Www hnrblock com Do not include these payments in your income. Www hnrblock com Disability Pensions If you retired on disability, you must include in income any disability pension you receive under a plan that is paid for by your employer. Www hnrblock com You must report your taxable disability payments as wages on line 7 of Form 1040 or Form 1040A until you reach minimum retirement age. Www hnrblock com Minimum retirement age generally is the age at which you can first receive a pension or annuity if you are not disabled. Www hnrblock com You may be entitled to a tax credit if you were permanently and totally disabled when you retired. Www hnrblock com For information on this credit, see Publication 524, Credit for the Elderly or the Disabled. Www hnrblock com Beginning on the day after you reach minimum retirement age, payments you receive are taxable as a pension or annuity. Www hnrblock com Report the payments on lines 16a and 16b of Form 1040 or on lines 12a and 12b of Form 1040A. Www hnrblock com For more information on pensions and annuities, see Publication 575, Pension and Annuity Income. Www hnrblock com Retirement and profit-sharing plans. Www hnrblock com   If you receive payments from a retirement or profit-sharing plan that does not provide for disability retirement, do not treat the payments as a disability pension. Www hnrblock com The payments must be reported as a pension or annuity. Www hnrblock com Accrued leave payment. Www hnrblock com   If you retire on disability, any lump-sum payment you receive for accrued annual leave is a salary payment. Www hnrblock com The payment is not a disability payment. Www hnrblock com Include it in your income in the tax year you receive it. Www hnrblock com See Publication 525, Taxable and Nontaxable Income, for more information. Www hnrblock com Military and Government Disability Pensions Generally, you must report disability pensions as income, but do not include certain military and government disability pensions. Www hnrblock com For information about military and government disability pensions, see Publication 525. Www hnrblock com VA disability benefits. Www hnrblock com   Do not include disability benefits you receive from the Department of Veterans Affairs (VA) in your gross income. Www hnrblock com If you are a military retiree and do not receive your disability benefits from the VA, see Publication 525 for more information. Www hnrblock com   Do not include in your income any veterans' benefits paid under any law, regulation, or administrative practice administered by the VA. Www hnrblock com These include: Education, training, and subsistence allowances, Disability compensation and pension payments for disabilities paid either to veterans or their families, Grants for homes designed for wheelchair living, Grants for motor vehicles for veterans who lost their sight or the use of their limbs, Veterans' insurance proceeds and dividends paid either to veterans or their beneficiaries, including the proceeds of a veteran's endowment policy paid before death, Interest on insurance dividends left on deposit with the VA, Benefits under a dependent-care assistance program, The death gratuity paid to a survivor of a member of the Armed Forces who died after September 10, 2001, or Payments made under the VA's compensated work therapy program. Www hnrblock com Other Payments You may receive other payments that are related to your disability. Www hnrblock com The following payments are not taxable. Www hnrblock com Benefit payments from a public welfare fund, such as payments due to blindness. Www hnrblock com Workers' compensation for an occupational sickness or injury if paid under a workers' compensation act or similar law. Www hnrblock com Compensatory (but not punitive) damages for physical injury or physical sickness. Www hnrblock com Disability benefits under a “no-fault” car insurance policy for loss of income or earning capacity as a result of injuries. Www hnrblock com Compensation for permanent loss or loss of use of a part or function of your body, or for your permanent disfigurement. Www hnrblock com Long-Term Care Insurance Long-term care insurance contracts generally are treated as accident and health insurance contracts. Www hnrblock com Amounts you receive from them (other than policyholder dividends or premium refunds) generally are excludable from income as amounts received for personal injury or sickness. Www hnrblock com More detailed information can be found in Publication 525. Www hnrblock com Accelerated Death Benefits You can exclude from income accelerated death benefits you receive on the life of an insured individual if certain requirements are met. Www hnrblock com Accelerated death benefits are amounts received under a life insurance contract before the death of the insured. Www hnrblock com These benefits also include amounts received on the sale or assignment of the contract to a viatical settlement provider. Www hnrblock com This exclusion applies only if the insured was a terminally ill individual or a chronically ill individual. Www hnrblock com For more information, see Publication 525. Www hnrblock com Itemized Deductions If you file Form 1040, you generally can either claim the standard deduction or itemize your deductions. Www hnrblock com You must use Schedule A (Form 1040) to itemize your deductions. Www hnrblock com See your form instructions for information on the standard deduction and the deductions you can itemize. Www hnrblock com The following discussions highlight some itemized deductions that are of particular interest to persons with disabilities. Www hnrblock com Medical Expenses When figuring your deduction for medical expenses, you can generally include medical and dental expenses you pay for yourself, your spouse, and your dependents. Www hnrblock com Medical expenses are the cost of diagnosis, cure, mitigation, treatment, or prevention of disease and the costs for treatments affecting any part or function of the body. Www hnrblock com They include the costs of equipment, supplies, diagnostic devices, and transportation for needed medical care and payments for medical insurance. Www hnrblock com You can deduct only the amount of your medical and dental expenses that is more than 10% (7. Www hnrblock com 5% if either you or your spouse was born before January 2, 1949) of your adjusted gross income shown on Form 1040, line 38. Www hnrblock com The following list highlights some of the medical expenses you can include in figuring your medical expense deduction. Www hnrblock com For more detailed information, see Publication 502, Medical and Dental Expenses (Including the Health Coverage Tax Credit). Www hnrblock com Artificial limbs, contact lenses, eyeglasses, and hearing aids. Www hnrblock com The part of the cost of Braille books and magazines that is more than the price of regular printed editions. Www hnrblock com Cost and repair of special telephone equipment for hearing-impaired persons. Www hnrblock com Cost and maintenance of a wheelchair or a three-wheel motor vehicle commercially known as an “autoette. Www hnrblock com ” Cost and care of a guide dog or other animal aiding a person with a physical disability. Www hnrblock com Costs for a school that furnishes special education if a principal reason for using the school is its resources for relieving a mental or physical disability. Www hnrblock com This includes the cost of teaching Braille and lip reading and the cost of remedial language training to correct a condition caused by a birth defect. Www hnrblock com Premiums for qualified long-term care insurance, up to certain amounts. Www hnrblock com Improvements to a home that do not increase its value if the main purpose is medical care. Www hnrblock com An example is constructing entrance or exit ramps. Www hnrblock com Improvements that increase a home's value, if the main purpose is medical care, may be partly included as a medical expense. Www hnrblock com See Publication 502 for more information. Www hnrblock com Impairment-Related Work Expenses If you are disabled, you can take a business deduction for expenses that are necessary for you to be able to work. Www hnrblock com If you take a business deduction for these impairment-related work expenses, they are not subject to the 10% (7. Www hnrblock com 5% if you or your spouse is age 65 or older) limit that applies to medical expenses. Www hnrblock com You are disabled if you have: A physical or mental disability (for example, blindness or deafness) that functionally limits your being employed, or A physical or mental impairment (including, but not limited to, a sight or hearing impairment) that substantially limits one or more of your major life activities, such as performing manual tasks, walking, speaking, breathing, learning, or working. Www hnrblock com Impairment-related expenses defined. Www hnrblock com   Impairment-related expenses are those ordinary and necessary business expenses that are: Necessary for you to do your work satisfactorily, For goods and services not required or used, other than incidentally, in your personal activities, and Not specifically covered under other income tax laws. Www hnrblock com Publication 502 contains more detailed information. Www hnrblock com Tax Credits This discussion highlights three tax credits that may be of interest to people with disabilities and those who care for people with disabilities. Www hnrblock com Child and Dependent Care Credit If you pay someone to care for either your dependent under age 13 or your spouse or dependent who is not able to care for himself or herself, you may be able to get a credit of up to 35% of your expenses. Www hnrblock com To qualify, you must pay these expenses so you can work or look for work. Www hnrblock com The care must be provided for: Your qualifying child who is your dependent and who was under age 13 when the care was provided, Your spouse who was not physically or mentally able to care for himself or herself and lived with you for more than half the year, or A person who was not physically or mentally able to care for himself or herself, lived with you for more than half the year, and either: Was your dependent, or Would have been your dependent except that: He or she received gross income of $3,900 or more, He or she filed a joint return, or You, or your spouse if filing jointly, could be claimed as a dependent on someone else's 2013 return. Www hnrblock com You can claim the credit on Form 1040 or 1040A. Www hnrblock com You cannot claim the credit on Form 1040EZ or Form 1040NR-EZ. Www hnrblock com You figure the credit on Form 2441. Www hnrblock com For more information, see the instructions for Form 1040, line 48, or Form 1040A, line 29. Www hnrblock com Publication 503, Child and Dependent Care Expenses, contains more detailed information. Www hnrblock com Credit for the Elderly or the Disabled You may be able to claim this credit if you are a U. Www hnrblock com S. Www hnrblock com citizen or a resident alien and either of the following apply. Www hnrblock com You were 65 or older at the end of 2013, You were under 65 at the end of 2013, and retired on permanent or total disability. Www hnrblock com You can claim the credit on Form 1040 or 1040A. Www hnrblock com You figure the credit on Schedule R. Www hnrblock com For more information, see the instructions for Form 1040, line 53, or Form 1040A, line 30. Www hnrblock com Publication 524, Credit for the Elderly or the Disabled, contains more detailed information. Www hnrblock com Earned Income Credit This credit is based on the amount of your earned income. Www hnrblock com You can get the credit if your adjusted gross income for 2013 is less than: $14,340 ($19,680 for married filing jointly) if you do not have a qualifying child, $37,870 ($43,210 for married filing jointly) if you have one qualifying child, $43,038 ($48,378 for married filing jointly) if you have two qualifying children, or $46,227 ($51,567 for married filing jointly) if you have three or more qualifying children. Www hnrblock com To figure the credit, use the worksheet in the instructions for Form 1040, 1040A, or 1040EZ. Www hnrblock com If you have a qualifying child, also complete Schedule EIC, Earned Income Credit, and attach it to your Form 1040 or 1040A. Www hnrblock com You cannot use Form 1040EZ if you have a qualifying child. Www hnrblock com Qualifying child. Www hnrblock com   To be a qualifying child, your child must be younger than you (or your spouse if married filing jointly) and under age 19 or a full-time student under age 24 at the end of 2013, or permanently and totally disabled at any time during 2013, regardless of age. Www hnrblock com Earned income. Www hnrblock com   If you are retired on disability, benefits you receive under your employer's disability retirement plan are considered earned income until you reach minimum retirement age. Www hnrblock com However, payments you received from a disability insurance policy that you paid the premiums for are not earned income. Www hnrblock com More information. Www hnrblock com   For more information, including all the requirements to claim the earned income credit, see the instructions for Form 1040, line 64a; Form 1040A, line 38a; or Form 1040EZ, line 8a. Www hnrblock com Publication 596, Earned Income Credit (EIC), contains more detailed information. Www hnrblock com Household Employers If you pay someone to work in your home, such as a babysitter or housekeeper, you may be a household employer who has to pay employment taxes. Www hnrblock com A person you hire through an agency is not your employee if the agency controls what work is done and how it is done. Www hnrblock com This control could include setting the fee, requiring regular reports, and providing rules of conduct and appearance. Www hnrblock com In this case you do not have to pay employment taxes on the amount you pay. Www hnrblock com But if you control what work is done and how it is done, the worker is your employee. Www hnrblock com If you possess the right to discharge a worker, that worker is generally considered to be your employee. Www hnrblock com If a worker is your employee, it does not matter that you hired the worker through an agency or from a list provided by an agency. Www hnrblock com To find out if you have to pay employment taxes, see Publication 926, Household Employer's Tax Guide For Wages Paid in 2013. Www hnrblock com Business Tax Incentives If you own or operate a business, or you are looking for work, you should be aware of the following tax incentives for businesses to help persons with disabilities. Www hnrblock com Deduction for costs of removing barriers to the disabled and the elderly—This is a deduction a business can take for making a facility or public transportation vehicle more accessible to and usable by persons who are disabled or elderly. Www hnrblock com For more information, see chapter 7 of Publication 535, Business Expenses. Www hnrblock com Disabled access credit—This is a nonrefundable tax credit for an eligible small business that pays or incurs expenses to provide access to persons with disabilities. Www hnrblock com The expenses must be to enable the eligible small business to comply with the Americans With Disabilities Act of 1990. Www hnrblock com See Form 8826, Disabled Access Credit, for more information. Www hnrblock com Work opportunity credit—This credit provides businesses with an incentive to hire individuals from targeted groups that have a particularly high unemployment rate or other special employment needs. Www hnrblock com One targeted group consists of vocational rehabilitation referrals. Www hnrblock com These are individuals who have a physical or mental disability that results in a substantial handicap to employment. Www hnrblock com See Form 5884, Work Opportunity Credit. Www hnrblock com How To Get Tax Help Go online, use a smart phone, call or walk in to an office near you. Www hnrblock com Whether it's help with a tax issue, preparing your tax return or picking up a free publication or form, get the help you need the way you want it. Www hnrblock com Free help with your tax return. Www hnrblock com   Free help in preparing your return is available nationwide from IRS-certified volunteers. Www hnrblock com The Volunteer Income Tax Assistance (VITA) program is designed to help low-to-moderate income, elderly, persons with disabilities, and limited English proficient taxpayers. Www hnrblock com The Tax Counseling for the Elderly (TCE) program is designed to assist taxpayers age 60 and older with their tax returns. Www hnrblock com Most VITA and TCE sites offer free electronic filing and all volunteers will let you know about credits and deductions you may be entitled to claim. Www hnrblock com Some VITA and TCE sites provide taxpayers the opportunity to prepare their return with the assistance of an IRS-certified volunteer. Www hnrblock com To find the nearest VITA or TCE site, visit IRS. Www hnrblock com gov or call 1-800-906-9887. Www hnrblock com   As part of the TCE program, AARP offers the Tax-Aide counseling program. Www hnrblock com To find the nearest AARP Tax-Aide site, visit AARP's website at www. Www hnrblock com aarp. Www hnrblock com org/money/taxaide or call 1-888-227-7669. Www hnrblock com   For more information on these programs, go to IRS. Www hnrblock com gov and enter “VITA” in the search box. Www hnrblock com Internet. Www hnrblock com IRS. Www hnrblock com gov and IRS2Go are ready when you are — every day, every night, 24 hours a day, 7 days a week. Www hnrblock com Apply for an Employer Identification Number (EIN). Www hnrblock com Go to IRS. Www hnrblock com gov and enter Apply for an EIN in the search box. Www hnrblock com Request an Electronic Filing PIN by going to IRS. Www hnrblock com gov and entering Electronic Filing PIN in the search box. Www hnrblock com Check the status of your 2013 refund with Where's My Refund? Go to IRS. Www hnrblock com gov or the IRS2Go app, and click on Where's My Refund? You'll get a personalized refund date as soon as the IRS processes your tax return and approves your refund. Www hnrblock com If you e-file, your refund status is usually available within 24 hours after the IRS receives your tax return or 4 weeks after you've mailed a paper return. Www hnrblock com Check the status of your amended return. Www hnrblock com Go to IRS. Www hnrblock com gov and enter Where's My Amended Return in the search box. Www hnrblock com Download forms, instructions, and publications, including some accessible versions. Www hnrblock com Order free transcripts of your tax returns or tax account using the Order a Transcript tool on IRS. Www hnrblock com gov or IRS2Go. Www hnrblock com Tax return and tax account transcripts are generally available for the current year and past three years. Www hnrblock com Figure your income tax withholding with the IRS Withholding Calculator on IRS. Www hnrblock com gov. Www hnrblock com Use it if you've had too much or too little withheld, your personal situation has changed, you're starting a new job or you just want to see if you're having the right amount withheld. Www hnrblock com Determine if you might be subject to the Alternative Minimum Tax by using the Alternative Minimum Tax Assistant on IRS. Www hnrblock com gov. Www hnrblock com Locate the nearest Taxpayer Assistance Center using the Office Locator tool on IRS. Www hnrblock com gov or IRS2Go. Www hnrblock com Stop by most business days for face-to-face tax help, no appointment necessary — just walk in. Www hnrblock com An employee can explain IRS letters, request adjustments to your tax account or help you set up a payment plan. Www hnrblock com Before you visit, check the Office Locator for the address, phone number, hours of operation and the services provided. Www hnrblock com If you have an ongoing tax account problem or a special need, such as a disability, you can request an appointment. Www hnrblock com Call the local number listed in the Office Locator, or look in the phone book under United States Government, Internal Revenue Service. Www hnrblock com Locate the nearest volunteer help site with the VITA Locator Tool on IRS. Www hnrblock com gov. Www hnrblock com Low-to-moderate income, elderly, persons with disabilities, and limited English proficient taxpayers can get free help with their tax return from the nationwide Volunteer Income Tax Assistance (VITA) program. Www hnrblock com The Tax Counseling for the Elderly (TCE) program helps taxpayers 60 and older with their tax returns. Www hnrblock com Most VITA and TCE sites offer free electronic filing and some provide IRS-certified volunteers who can help prepare your tax return. Www hnrblock com AARP offers the Tax-Aide counseling program as part of the TCE program. Www hnrblock com Visit AARP's website to find the nearest Tax-Aide location. Www hnrblock com Research your tax questions. Www hnrblock com Search publications and instructions by topic or keyword. Www hnrblock com Read the Internal Revenue Code, regulations, or other official guidance. Www hnrblock com Read Internal Revenue Bulletins. Www hnrblock com Sign up to receive local and national tax news by email. Www hnrblock com Phone. Www hnrblock com You can call the IRS, or you can carry it in your pocket with the IRS2Go app on your smart phone or tablet. Www hnrblock com Download the free IRS2Go mobile app from the iTunes app store or from Google Play. Www hnrblock com Use it to watch the IRS YouTube channel, get IRS news as soon as it's released to the public, order transcripts of your tax returns or tax account, check your refund status, subscribe to filing season updates or daily tax tips, and follow the IRS Twitter news feed, @IRSnews, to get the latest federal tax news, including information about tax law changes and important IRS programs. Www hnrblock com Call to locate the nearest volunteer help site, 1-800-906-9887. Www hnrblock com Low-to-moderate income, elderly, persons with disabilities, and limited English proficient taxpayers can get free help with their tax return from the nationwide Volunteer Income Tax Assistance (VITA) program. Www hnrblock com The Tax Counseling for the Elderly (TCE) program helps taxpayers 60 and older with their tax returns. Www hnrblock com Most VITA and TCE sites offer free electronic filing. Www hnrblock com Some VITA and TCE sites provide IRS-certified volunteers who can help prepare your tax return. Www hnrblock com Through the TCE program, AARP offers the Tax-Aide counseling program; call 1-888-227-7669 to find the nearest Tax-Aide location. Www hnrblock com Call to check the status of your 2013 refund, 1-800-829-1954 or 1-800-829-4477. Www hnrblock com The automated Where's My Refund? information is available 24 hours a day, 7 days a week. Www hnrblock com If you e-file, your refund status is usually available within 24 hours after the IRS receives your tax return or 4 weeks after you've mailed a paper return. Www hnrblock com Before you call, have your 2013 tax return handy so you can provide your social security number, your filing status, and the exact whole dollar amount of your refund. Www hnrblock com Where's My Refund? can give you a personalized refund date as soon as the IRS processes your tax return and approves your refund. Www hnrblock com Where's My Refund? includes information for the most recent return filed in the current year and does not include information about amended returns. Www hnrblock com Call the Amended Return Hotline, 1-866-464-2050, to check the status of your amended return. Www hnrblock com Call to order forms, instructions and publications, 1-800-TAX-FORM (1-800-829-3676) to order current-year forms, instructions and publications, and prior-year forms and instructions (limited to 5 years). Www hnrblock com You should receive your order within 10 business days. Www hnrblock com Call to order transcripts of your tax returns or tax account, 1-800-908-9946. Www hnrblock com Follow the prompts to provide your Social Security Number or Individual Taxpayer Identification Number, date of birth, street address and ZIP code. Www hnrblock com Call for TeleTax topics, 1-800-829-4477, to listen to pre-recorded messages covering various tax topics. Www hnrblock com Call to ask tax questions, 1-800-829-1040. Www hnrblock com Call using TTY/TDD equipment, 1-800-829-4059 to ask tax questions or order forms and publications. Www hnrblock com The TTY/TDD telephone number is for people who are deaf, hard of hearing, or have a speech disability. Www hnrblock com These individuals can also contact the IRS through relay services such as the Federal Relay Service available at www. Www hnrblock com gsa. Www hnrblock com gov/fedrelay. Www hnrblock com Walk-in. Www hnrblock com You can find a selection of forms, publications and services — in-person, face-to-face. Www hnrblock com Products. Www hnrblock com You can walk in to some post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. Www hnrblock com Some IRS offices, libraries, and city and county government offices have a collection of products available to photocopy from reproducible proofs. Www hnrblock com Services. Www hnrblock com You can walk in to your local TAC most business days for personal, face-to-face tax help. Www hnrblock com An employee can explain IRS letters, request adjustments to your tax account, or help you set up a payment plan. Www hnrblock com If you need to resolve a tax problem, have questions about how the tax law applies to your individual tax return, or you are more comfortable talking with someone in person, visit your local TAC where you can talk with an IRS representative face-to-face. Www hnrblock com No appointment is necessary—just walk in. Www hnrblock com Before visiting, check www. Www hnrblock com irs. Www hnrblock com gov/localcontacts for hours of operation and services provided. Www hnrblock com Mail. Www hnrblock com You can send your order for forms, instructions, and publications to the address below. Www hnrblock com You should receive a response within 10 business days after your request is received. Www hnrblock com  Internal Revenue Service 1201 N. Www hnrblock com Mitsubishi Motorway Bloomington, IL 61705-6613 The Taxpayer Advocate Service Is Here to Help You. Www hnrblock com   The Taxpayer Advocate Service (TAS) is your voice at the IRS. Www hnrblock com Our job is to ensure that every taxpayer is treated fairly and that you know and understand your rights. Www hnrblock com What can TAS do for you?   We can offer you free help with IRS problems that you can't resolve on your own. Www hnrblock com We know this process can be confusing, but the worst thing you can do is nothing at all! TAS can help if you can't resolve your tax problem and: Your problem is causing financial difficulties for you, your family, or your business. Www hnrblock com You face (or your business is facing) an immediate threat of adverse action. Www hnrblock com You've tried repeatedly to contact the IRS but no one has responded, or the IRS hasn't responded by the date promised. Www hnrblock com   If you qualify for our help, you'll be assigned to one advocate who'll be with you at every turn and will do everything possible to resolve your problem. Www hnrblock com Here's why we can help: TAS is an independent organization within the IRS. Www hnrblock com Our advocates know how to work with the IRS. Www hnrblock com Our services are free and tailored to meet your needs. Www hnrblock com We have offices in every state, the District of Columbia, and Puerto Rico. Www hnrblock com How can you reach us?   If you think TAS can help you, call your local advocate, whose number is in your local directory and at www. Www hnrblock com irs. Www hnrblock com gov/advocate, or call us toll-free at 1-877-777-4778. Www hnrblock com How else does TAS help taxpayers?   TAS also works to resolve large-scale, systemic problems that affect many taxpayers. Www hnrblock com If you know of one of these broad issues, please report it to us through our Systemic Advocacy Management System at www. Www hnrblock com irs. Www hnrblock com gov/sams. Www hnrblock com Low Income Taxpayer Clinics. Www hnrblock com   Low Income Taxpayer Clinics (LITCs) serve individuals whose income is below a certain level and need to resolve tax problems such as audits, appeals, and tax collection disputes. Www hnrblock com Some clinics can provide information about taxpayer rights and responsibilities in different languages for individuals who speak English as a second language. Www hnrblock com Visit www. Www hnrblock com TaxpayerAdvocate. Www hnrblock com irs. Www hnrblock com gov or see IRS Publication 4134, Low Income Taxpayer Clinic List. Www hnrblock com Prev  Up  Next   Home   More Online Publications
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Employment Taxes

If you are self-employed, visit the Self-Employed Individuals Tax Center page for information about your tax obligations.

Understanding Employment Taxes
Understand the various types of taxes you need to deposit and report such as, federal income tax, social security and Medicare taxes and Federal Unemployment (FUTA) Tax.

Depositing and Reporting Employment Taxes
You must deposit federal income tax withheld and both the employer and employee social security and Medicare taxes. You also must report on the taxes you deposit, as well as report wages, tips and other compensation paid to an employee.

Employment Tax Due Dates
You must deposit and report your employment taxes on time.

Correcting Employment Taxes
"X" forms are used to report adjustments to employment taxes and to claim refunds of overpaid employment taxes.

e-File Form 940, 941 or 944 for Small Businesses
If you are a small business owner, you have two options to e-file tax forms of the 94x series.

Rate the Small Business and Self-Employed Website

Page Last Reviewed or Updated: 04-Mar-2014

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Www hnrblock com 1. Www hnrblock com   Filing and Paying Business Taxes Table of Contents Introduction Useful Items - You may want to see: Identification NumbersNew EIN. Www hnrblock com Employee. Www hnrblock com Other payee. Www hnrblock com Income TaxDo I Have To File an Income Tax Return? How Do I File? IRS e-file (Electronic Filing) When Is My Tax Return Due? How Do I Pay Income Tax? Self-Employment (SE) TaxHow to become insured under social security. Www hnrblock com Earning credits in 2013 and 2014. Www hnrblock com Employment Taxes Excise Taxes Information ReturnsWaiver of penalties. Www hnrblock com Penalties. Www hnrblock com Introduction This chapter explains the business taxes you may have to pay and the forms you may have to file. Www hnrblock com It also discusses taxpayer identification numbers. Www hnrblock com Table 1-1 lists the benefits of filing electronically. Www hnrblock com Table 1-2 lists the federal taxes you may have to pay, their due dates, and the forms you use to report them. Www hnrblock com Table 1-3 provides checklists that highlight the typical forms and schedules you may need to file if you ever go out of business. Www hnrblock com You may want to get Publication 509, Tax Calendars. Www hnrblock com It has tax calendars that tell you when to file returns and make tax payments. Www hnrblock com Useful Items - You may want to see: Publication 505 Tax Withholding and Estimated Tax Form (and Instructions) 1040 U. Www hnrblock com S. Www hnrblock com Individual Income Tax Return 1040-ES Estimated Tax for Individuals Sch C (Form 1040) Profit or Loss From Business Sch C-EZ (Form 1040) Net Profit From Business Sch SE (Form 1040) Self-Employment Tax See chapter 12 for information about getting publications and forms. Www hnrblock com Identification Numbers This section explains three types of taxpayer identification numbers, who needs them, when to use them, and how to get them. Www hnrblock com Social security number (SSN). Www hnrblock com   Generally, use your SSN as your taxpayer identification number. Www hnrblock com You must put this number on each of your individual income tax forms, such as Form 1040 and its schedules. Www hnrblock com   To apply for an SSN, use Form SS-5, Application for a Social Security Card. Www hnrblock com This form is available at Social Security Administration (SSA) offices or by calling 1-800-772-1213. Www hnrblock com It is also available from the SSA website at www. Www hnrblock com socialsecurity. Www hnrblock com gov. Www hnrblock com Individual taxpayer identification number (ITIN). Www hnrblock com   The IRS will issue an ITIN if you are a nonresident or resident alien and you do not have and are not eligible to get an SSN. Www hnrblock com In general, if you need to obtain an ITIN, you must attach Form W-7, Application for IRS Individual Taxpayer Identification Number, with your signed, original, completed tax return and any other required documentation and mail them to the following address. Www hnrblock com  Internal Revenue Service ITIN Operation P. Www hnrblock com O. Www hnrblock com Box 149342 Austin, TX 78714-9342 The exceptions are covered in detail in the instructions for Form W-7. Www hnrblock com If you must include another person's SSN on your return and that person does not have and cannot get an SSN, enter that person's ITIN. Www hnrblock com The application is also available in Spanish. Www hnrblock com The form is available at IRS. Www hnrblock com gov or you can call 1-800-829-3676 to order the form. Www hnrblock com    An ITIN is for tax use only. Www hnrblock com It does not entitle the holder to social security benefits or change the holder's employment or immigration status. Www hnrblock com Employer identification number (EIN). Www hnrblock com   You must also have an EIN to use as a taxpayer identification number if you do either of the following. Www hnrblock com Pay wages to one or more employees. Www hnrblock com File pension or excise tax returns. Www hnrblock com   If you must have an EIN, include it along with your SSN on your Schedule C or C-EZ. Www hnrblock com   You can apply for an EIN: Online by clicking on the Employer ID Numbers (EINs) link at www. Www hnrblock com irs. Www hnrblock com gov/businesses/small. Www hnrblock com The EIN is issued immediately once the application information is validated. Www hnrblock com By telephone at 1-800-829-4933. Www hnrblock com By mailing or faxing Form SS-4, Application for Employer Identification Number. Www hnrblock com New EIN. Www hnrblock com   You may need to get a new EIN if either the form or the ownership of your business changes. Www hnrblock com For more information, see Publication 1635, Understanding Your EIN. Www hnrblock com When you need identification numbers of other persons. Www hnrblock com   In operating your business, you will probably make certain payments you must report on information returns. Www hnrblock com These payments are discussed under Information Returns, later in this chapter. Www hnrblock com You must give the recipient of these payments (the payee) a statement showing the total amount paid during the year. Www hnrblock com You must include the payee's identification number and your identification number on the returns and statements. Www hnrblock com Employee. Www hnrblock com   If you have employees, you must get an SSN from each of them. Www hnrblock com Record the name and SSN of each employee exactly as they are shown on the employee's social security card. Www hnrblock com If the employee's name is not correct as shown on the card, the employee should request a new card from the SSA. Www hnrblock com This may occur if the employee's name was changed due to marriage or divorce. Www hnrblock com   Form W-4, Employee's Withholding Allowance Certificate, is completed by each employee so the correct federal income tax can be withheld from their pay. Www hnrblock com   If your employee does not have an SSN, he or she should file Form SS-5 with the SSA. Www hnrblock com Other payee. Www hnrblock com   If you make payments to someone who is not your employee and you must report the payments on an information return, get that person's SSN. Www hnrblock com If you must report payments to an organization, such as a corporation or partnership, you must get its EIN. Www hnrblock com   To get the payee's SSN or EIN, use Form W-9, Request for Taxpayer Identification Number and Certification. Www hnrblock com   A payee who does not provide you with an identification number may be subject to backup withholding. Www hnrblock com For information on backup withholding, see the Form W-9 instructions and the General Instructions for Certain Information Returns. Www hnrblock com Income Tax This part explains whether you have to file an income tax return and when you file it. Www hnrblock com It also explains how you pay the tax. Www hnrblock com Do I Have To File an Income Tax Return? You have to file an income tax return for 2013 if your net earnings from self-employment were $400 or more. Www hnrblock com If your net earnings from self-employment were less than $400, you still have to file an income tax return if you meet any other filing requirement listed in the Form 1040 instructions. Www hnrblock com How Do I File? File your income tax return on Form 1040 and attach Schedule C or Schedule C-EZ. Www hnrblock com Enter the net profit or loss from Schedule C or Schedule C-EZ on page 1 of Form 1040. Www hnrblock com Use Schedule C to figure your net profit or loss from your business. Www hnrblock com If you operated more than one business as a sole proprietorship, you must attach a separate Schedule C for each business. Www hnrblock com You can use the simpler Schedule C-EZ if you operated only one business as a sole proprietorship, you did not have a net loss, and you meet the other requirements listed in Part I of the schedule. Www hnrblock com IRS e-file (Electronic Filing) Please click here for the text description of the image. Www hnrblock com E-file logo You may be able to file your tax returns electronically using an IRS e-file option. Www hnrblock com Table 1-1 lists the benefits of IRS e-file. Www hnrblock com IRS e-file uses automation to replace most of the manual steps needed to process paper returns. Www hnrblock com As a result, the processing of e-file returns is faster and more accurate than the processing of paper returns. Www hnrblock com As with a paper return, you are responsible for making sure your return contains accurate information and is filed on time. Www hnrblock com Using e-file does not affect your chances of an IRS examination of your return. Www hnrblock com You can file most commonly used business forms using IRS e-file. Www hnrblock com For more information, visit IRS. Www hnrblock com gov. Www hnrblock com Electronic signatures. Www hnrblock com   Paperless filing is easier than you think and it's available to most taxpayers who file electronically—including those first-time filers who were 16 or older at the end of 2013. Www hnrblock com If you file electronically using tax preparation software or a tax professional, you will participate in the Self-Select PIN (personal identification number) program. Www hnrblock com If you are married filing jointly, you and your spouse will each need to create a PIN and enter these PINs as your electronic signatures. Www hnrblock com    To create a PIN, you must know your adjusted gross income (AGI) from your originally filed 2012 income tax return (not from an amended return, Form 1040X, or any math error notice from the IRS). Www hnrblock com You will also need to provide your date of birth (DOB). Www hnrblock com Make sure your DOB is accurate and matches the information on record with the Social Security Administration before you e-file. Www hnrblock com To do this, check your annual Social Security Statement. Www hnrblock com   With a Self-Select PIN, there is nothing to sign and nothing to mail—not even your Forms W-2. Www hnrblock com For more details on the Self-Select PIN program, visit IRS. Www hnrblock com gov. Www hnrblock com State returns. Www hnrblock com   In most states, you can file an electronic state return simultaneously with your federal return. Www hnrblock com For more information, check with your local IRS office, state tax agency, tax professional, or IRS. Www hnrblock com gov. Www hnrblock com Refunds. Www hnrblock com   You can have your refund check mailed to you, or you can have your refund deposited directly to your checking or savings account. Www hnrblock com   With e-file, your refund will be issued in half the time as when filing on paper. Www hnrblock com Most refunds are issued within 3 weeks. Www hnrblock com If you choose Direct Deposit, you can receive your refund in as few as 10 days. Www hnrblock com Offset against debts. Www hnrblock com   As with a paper return, you may not get all of your refund if you owe certain past-due amounts, such as federal tax, state tax, a student loan, or child support. Www hnrblock com You will be notified if the refund you claimed has been offset against your debts. Www hnrblock com Refund inquiries. Www hnrblock com   You can check the status of your refund if it has been at least 24 hours (4 weeks if you mailed a paper return) from the date you filed your return. Www hnrblock com Be sure to have a copy of your tax return available because you will need to know the filing status, the first social security number shown on the return, and the exact whole-dollar amount of the refund. Www hnrblock com To check on your refund, do one of the following. Www hnrblock com Go to IRS. Www hnrblock com gov and click on Where's My Refund. Www hnrblock com Call 1-800-829-4477 for automated refund information, and follow the recorded instructions. Www hnrblock com Call 1-800-829-1954 during the hours shown in your form instructions. Www hnrblock com Balance due. Www hnrblock com   If you owe tax, you must pay it by April 15, 2014, to avoid late-payment penalties and interest. Www hnrblock com You can make your payment electronically by scheduling an electronic funds withdrawal from your checking or savings account or by credit card. Www hnrblock com Using an Authorized IRS e-file Provider Many tax professionals can electronically file paperless returns for their clients. Www hnrblock com You have two options. Www hnrblock com You can prepare your return, take it to an authorized IRS e-file provider, and have the provider transmit it electronically to the IRS. Www hnrblock com You can have an authorized IRS e-file provider prepare your return and transmit it for you electronically. Www hnrblock com You will be asked to complete Form 8879, IRS e-file Signature Authorization, to authorize the provider to enter your self-selected PIN on your return. Www hnrblock com Depending on the provider and the specific services requested, a fee may be charged. Www hnrblock com To find an authorized IRS e-file provider near you, go to IRS. Www hnrblock com gov or look for an “Authorized IRS e-file Provider” sign. Www hnrblock com Using Your Personal Computer A computer with Internet access is all you need to file your tax return using IRS e-file. Www hnrblock com When you use your personal computer, you can e-file your return from your home any time of the day or night. Www hnrblock com Sign your return electronically using a self-selected PIN to complete the process. Www hnrblock com There is no signature form to submit or Forms W-2 to send in. Www hnrblock com Free Internet filing options. Www hnrblock com   More taxpayers can now prepare and e-file their individual income tax returns free using commercial tax preparation software accessible through IRS. Www hnrblock com gov or www. Www hnrblock com usa. Www hnrblock com gov. Www hnrblock com The IRS is partnering with the tax software industry to offer free preparation and filing services to a significant number of taxpayers. Www hnrblock com Security and privacy certificate programs will assure tax data is safe and secure. Www hnrblock com To see if you qualify for these services, visit the Return Preparation and Filing Options page at IRS. Www hnrblock com gov. Www hnrblock com   If you cannot use the free services, you can buy tax preparation software at various electronics stores or computer and office supply stores. Www hnrblock com You can also download software from the Internet or prepare and file your return completely online by using tax preparation software available on the Internet. Www hnrblock com Filing Through Employers and Financial Institutions Some businesses offer free e-file to their employees, members, or customers. Www hnrblock com Others offer it for a fee. Www hnrblock com Ask your employer or financial institution if they offer IRS e-file as an employee, member, or customer benefit. Www hnrblock com Free Help With Your Return Free help in preparing your return is available nationwide from IRS-trained volunteers. Www hnrblock com The Volunteer Income Tax Assistance (VITA) program is designed to help low-income taxpayers, and the Tax Counseling for the Elderly (TCE) program is designed to assist taxpayers age 60 or older with their tax returns. Www hnrblock com Some locations offer free electronic filing. Www hnrblock com Table 1-1. Www hnrblock com Benefits of IRS e-file Accuracy • Your chance of getting an error notice from the IRS is significantly reduced. Www hnrblock com Security • Your privacy and security are assured. Www hnrblock com Electronic signatures • Create your own personal identification number (PIN) and file a completely paperless return through your tax preparation software or tax professional. Www hnrblock com There is nothing to mail. Www hnrblock com Proof of acceptance • You receive an electronic acknowledgment within 48 hours that the IRS has accepted your return for processing. Www hnrblock com Fast refunds • You get your refund faster with Direct Deposit—in as few as 10 days. Www hnrblock com Free Internet filing options • Use IRS. Www hnrblock com gov to access commercial tax preparation and e-file services available at no cost to eligible taxpayers. Www hnrblock com Electronic payment options • Convenient, safe, and secure electronic payment options are available. Www hnrblock com E-file and pay your taxes in a single step. Www hnrblock com Schedule an electronic funds withdrawal from your checking or savings account (up to and including April 15, 2014) or pay by credit card. Www hnrblock com Federal/State filing • Prepare and file your federal and state tax returns together and double the benefits you get from e-file. Www hnrblock com When Is My Tax Return Due? Form 1040 for calendar year 2013 is due by April 15, 2014. Www hnrblock com If you use a fiscal year (explained in chapter 2), your return is due by the 15th day of the 4th month after the end of your fiscal year. Www hnrblock com If you file late, you may have to pay penalties and interest. Www hnrblock com If you cannot file your return on time, use Form 4868, Application for Automatic Extension of Time To File U. Www hnrblock com S. Www hnrblock com Individual Income Tax Return, to request an automatic 6-month extension. Www hnrblock com For calendar year taxpayers, this will extend the tax filing due date until October 15. Www hnrblock com Filing an extension does not extend the time to pay your taxes, only the time to file the tax return. Www hnrblock com How Do I Pay Income Tax? Federal income tax is a pay-as-you-go tax. Www hnrblock com You must pay it as you earn or receive income during the year. Www hnrblock com An employee usually has income tax withheld from his or her pay. Www hnrblock com If you do not pay your tax through withholding, or do not pay enough tax that way, you might have to pay estimated tax. Www hnrblock com You generally have to make estimated tax payments if you expect to owe taxes, including self-employment tax (discussed later), of $1,000 or more when you file your return. Www hnrblock com Use Form 1040-ES to figure and pay the tax. Www hnrblock com If you do not have to make estimated tax payments, you can pay any tax due when you file your return. Www hnrblock com For more information on estimated tax, see Publication 505, Tax Withholding and Estimated Tax. Www hnrblock com What are my payment options?   You can pay your estimated tax electronically using various options. Www hnrblock com If you pay electronically, there is no need to mail in Form 1040-ES payment vouchers. Www hnrblock com These options include: Paying electronically through the Electronic Federal Tax Payment System (EFTPS). Www hnrblock com Paying by authorizing an electronic funds withdrawal when you file Form 1040 electronically. Www hnrblock com Paying by credit or debit card over the phone or by Internet. Www hnrblock com Other options include crediting an overpayment from your 2013 return to your 2014 estimated tax, or mailing a check or money order with a Form 1040-ES payment voucher. Www hnrblock com EFTPS    To enroll in EFTPS, go to www. Www hnrblock com eftps. Www hnrblock com gov or call 1-800-555-4477. Www hnrblock com When you request a new EIN and you will have a tax obligation, you are automatically enrolled in EFTPS. Www hnrblock com Benefits of EFTPS: The chance of an error in making your payments is reduced. Www hnrblock com You receive immediate confirmation of every transaction. Www hnrblock com Penalty for underpayment of tax. Www hnrblock com   If you did not pay enough income tax and self-employment tax for 2013 by withholding or by making estimated tax payments, you may have to pay a penalty on the amount not paid. Www hnrblock com The IRS will figure the penalty for you and send you a bill. Www hnrblock com Or you can use Form 2210, Underpayment of Estimated Tax by Individuals, Estates, and Trusts, to see if you have to pay a penalty and to figure the penalty amount. Www hnrblock com For more information, see Publication 505. Www hnrblock com Self-Employment (SE) Tax Self-employment tax (SE tax) is a social security and Medicare tax primarily for individuals who work for themselves. Www hnrblock com It is similar to the social security and Medicare taxes withheld from the pay of most wage earners. Www hnrblock com If you earned income as a statutory employee, you do not pay SE tax on that income. Www hnrblock com Social security coverage. Www hnrblock com   Social security benefits are available to self-employed persons just as they are to wage earners. Www hnrblock com Your payments of SE tax contribute to your coverage under the social security system. Www hnrblock com Social security coverage provides you with retirement benefits, disability benefits, survivor benefits, and hospital insurance (Medicare) benefits. Www hnrblock com By not reporting all of your self-employment income, you could cause your social security benefits to be lower when you retire. Www hnrblock com How to become insured under social security. Www hnrblock com   You must be insured under the social security system before you begin receiving social security benefits. Www hnrblock com You are insured if you have the required number of credits (also called quarters of coverage), discussed next. Www hnrblock com Earning credits in 2013 and 2014. Www hnrblock com   For 2013, you received one credit, up to a maximum of four credits, for each $1,160 ($1,200 for 2014) of income subject to social security taxes. Www hnrblock com Therefore, for 2013, if you had income (self-employment and wages) of $4,640 that was subject to social security taxes, you receive four credits ($4,640 ÷ $1,160). Www hnrblock com   For an explanation of the number of credits you must have to be insured and the benefits available to you and your family under the social security program, consult your nearest Social Security Administration (SSA) office. Www hnrblock com    Making false statements to get or to increase social security benefits may subject you to penalties. Www hnrblock com The Social Security Administration (SSA) time limit for posting self-employment income. Www hnrblock com   Generally, the SSA will give you credit only for self-employment income reported on a tax return filed within 3 years, 3 months, and 15 days after the tax year you earned the income. Www hnrblock com If you file your tax return or report a change in your self-employment income after this time limit, the SSA may change its records, but only to remove or reduce the amount. Www hnrblock com The SSA will not change its records to increase your self-employment income. Www hnrblock com Who must pay self-employment tax. Www hnrblock com   You must pay SE tax and file Schedule SE (Form 1040) if either of the following applies. Www hnrblock com Your net earnings from self-employment (excluding church employee income) were $400 or more. Www hnrblock com You had church employee income of $108. Www hnrblock com 28 or more. Www hnrblock com The SE tax rules apply no matter how old you are and even if you are already receiving social security or Medicare benefits. Www hnrblock com SE tax rate. Www hnrblock com   For 2013, the SE tax rate on net earnings is 15. Www hnrblock com 3% (12. Www hnrblock com 4% social security tax plus 2. Www hnrblock com 9% Medicare tax). Www hnrblock com Maximum earnings subject to SE tax. Www hnrblock com   Only the first $113,700 of your combined wages, tips, and net earnings in 2013 is subject to any combination of the 12. Www hnrblock com 4% social security part of SE tax, social security tax, or railroad retirement (tier 1) tax. Www hnrblock com   All your combined wages, tips, and net earnings in 2013 are subject to any combination of the 2. Www hnrblock com 9% Medicare part of SE tax, social security tax, or railroad retirement (tier 1) tax. Www hnrblock com   If wages and tips you receive as an employee are subject to either social security or railroad retirement (tier 1) tax, or both, and total at least $113,700, do not pay the 12. Www hnrblock com 4% social security part of the SE tax on any of your net earnings. Www hnrblock com However, you must pay the 2. Www hnrblock com 9% Medicare part of the SE tax on all your net earnings. Www hnrblock com Deduct one-half of your SE tax as an adjustment to income on line 27 of Form 1040. Www hnrblock com   More information. Www hnrblock com   For information on methods of calculating SE tax, see Chapter 10, Self-Employment Tax. Www hnrblock com Table 1-2. Www hnrblock com Which Forms Must I File? IF you are liable for: THEN use Form: DUE by:1 Income tax 1040 and Schedule C or C-EZ2 15th day of 4th month after end of  tax year. Www hnrblock com Self-employment tax Schedule SE File with Form 1040. Www hnrblock com Estimated tax 1040-ES 15th day of 4th, 6th, and 9th months of tax year, and 15th day of 1st month after the end of tax year. Www hnrblock com Social security and Medicare taxes and income tax withholding 941 or 944 April 30, July 31, October 31, and January 313. Www hnrblock com     See Publication 15. Www hnrblock com Providing information on social security and Medicare taxes and income tax withholding W-2 (to employee)  W-2 and W-3 (to the Social Security Administration) January 313. Www hnrblock com   Last day of February (March 31 if filing electronically)3. Www hnrblock com Federal unemployment (FUTA) tax 940 January 313. Www hnrblock com     April 30, July 31, October 31, and January 31, but only if the liability for unpaid tax is more than $500. Www hnrblock com Filing information returns for payments to nonemployees and transactions with other persons See Information Returns Forms 1099 – to the recipient by January 31 and to the IRS by February 28 (March 31 if filing electronically). Www hnrblock com     Other forms – see the General Instructions for Certain Information Returns. Www hnrblock com Excise tax See Excise Taxes See the instructions to the forms. Www hnrblock com 1 If a due date falls on a Saturday, Sunday, or legal holiday, file by the next day that is not a Saturday, Sunday, or legal holiday. Www hnrblock com For more information, see Publication 509, Tax Calendars. Www hnrblock com 2 File a separate schedule for each business. Www hnrblock com 3 See the form instructions if you go out of business, change the form of your business, or stop paying wages. Www hnrblock com     Employment Taxes If you have employees, you will need to file forms to report employment taxes. Www hnrblock com Employment taxes include the following items. Www hnrblock com Social security and Medicare taxes. Www hnrblock com Federal income tax withholding. Www hnrblock com Federal unemployment (FUTA) tax. Www hnrblock com For more information, see Publication 15 (Circular E), Employer's Tax Guide. Www hnrblock com That publication explains your tax responsibilities as an employer. Www hnrblock com To help you determine whether the people working for you are your employees, see Publication 15-A, Employer's Supplemental Tax Guide. Www hnrblock com That publication has information to help you determine whether an individual is an independent contractor or an employee. Www hnrblock com If you incorrectly classify an employee as an independent contractor, you may be held liable for employment taxes for that worker plus a penalty. Www hnrblock com An independent contractor is someone who is self-employed. Www hnrblock com You do not generally have to withhold or pay any taxes on payments made to an independent contractor. Www hnrblock com Excise Taxes This section identifies some of the excise taxes you may have to pay and the forms you have to file if you do any of the following. Www hnrblock com Manufacture or sell certain products. Www hnrblock com Operate certain kinds of businesses. Www hnrblock com Use various kinds of equipment, facilities, or products. Www hnrblock com Receive payment for certain services. Www hnrblock com For more information on excise taxes, see Publication 510, Excise Taxes. Www hnrblock com Form 720. Www hnrblock com   The federal excise taxes reported on Form 720, Quarterly Federal Excise Tax Return, consist of several broad categories of taxes, including the following. Www hnrblock com Environmental taxes on the sale or use of ozone-depleting chemicals and imported products containing or manufactured with these chemicals. Www hnrblock com Communications and air transportation taxes. Www hnrblock com Fuel taxes. Www hnrblock com Tax on the first retail sale of heavy trucks, trailers, and tractors. Www hnrblock com Manufacturers taxes on the sale or use of a variety of different articles. Www hnrblock com Tax on indoor tanning services. Www hnrblock com Form 2290. Www hnrblock com   There is a federal excise tax on the use of certain trucks, truck tractors, and buses on public highways. Www hnrblock com The tax applies to vehicles having a taxable gross weight of 55,000 pounds or more. Www hnrblock com Report the tax on Form 2290, Heavy Highway Vehicle Use Tax Return. Www hnrblock com For more information, see the Instructions for Form 2290. Www hnrblock com Depositing excise taxes. Www hnrblock com   If you have to file a quarterly excise tax return on Form 720, you may have to deposit your excise taxes before the return is due. Www hnrblock com For details on depositing excise taxes, see the Instructions for Form 720. Www hnrblock com Information Returns If you make or receive payments in your business, you may have to report them to the IRS on information returns. Www hnrblock com The IRS compares the payments shown on the information returns with each person's income tax return to see if the payments were included in income. Www hnrblock com You must give a copy of each information return you are required to file to the recipient or payer. Www hnrblock com In addition to the forms described below, you may have to use other returns to report certain kinds of payments or transactions. Www hnrblock com For more details on information returns and when you have to file them, see the General Instructions for Certain Information Returns. Www hnrblock com Form 1099-MISC. Www hnrblock com   Use Form 1099-MISC, Miscellaneous Income, to report certain payments you make in your business. Www hnrblock com These payments include the following items. Www hnrblock com Payments of $600 or more for services performed for your business by people not treated as your employees, such as fees to subcontractors, attorneys, accountants, or directors. Www hnrblock com Rent payments of $600 or more, other than rents paid to real estate agents. Www hnrblock com Prizes and awards of $600 or more that are not for services, such as winnings on TV or radio shows. Www hnrblock com Royalty payments of $10 or more. Www hnrblock com Payments to certain crew members by operators of fishing boats. Www hnrblock com You also use Form 1099-MISC to report your sales of $5,000 or more of consumer goods to a person for resale anywhere other than in a permanent retail establishment. Www hnrblock com Form W-2. Www hnrblock com   You must file Form W-2, Wage and Tax Statement, to report payments to your employees, such as wages, tips, and other compensation, withheld income, social security, and Medicare taxes. Www hnrblock com You can file Form W-2 online. Www hnrblock com For more information about Form W-2, see the General Instructions for Forms W-2 and W-3. Www hnrblock com Penalties. Www hnrblock com   The law provides for the following penalties if you do not file Form 1099-MISC or Form W-2 or do not correctly report the information. Www hnrblock com For more information, see the General Instructions for Certain Information Returns. Www hnrblock com Failure to file information returns. Www hnrblock com This penalty applies if you do not file information returns by the due date, do not include all required information, or report incorrect information. Www hnrblock com Failure to furnish correct payee statements. Www hnrblock com This penalty applies if you do not furnish a required statement to a payee by the required date, do not include all required information, or report incorrect information. Www hnrblock com Waiver of penalties. Www hnrblock com   These penalties will not apply if you can show that the failure was due to reasonable cause and not willful neglect. Www hnrblock com   In addition, there is no penalty for failure to include all required information, or for including incorrect information, on a de minimis (small) number of information returns if you correct the errors by August 1 of the year the returns are due. Www hnrblock com (A de minimis number of returns is the greater of 10 or ½ of 1% of the total number of returns you are required to file for the year. Www hnrblock com ) Form 8300. Www hnrblock com   You must file Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business, if you receive more than $10,000 in cash in one transaction, or two or more related business transactions. Www hnrblock com Cash includes U. Www hnrblock com S. Www hnrblock com and foreign coin and currency. Www hnrblock com It also includes certain monetary instruments such as cashier's and traveler's checks and money orders. Www hnrblock com Cash does not include a check drawn on an individual's personal account (personal check). Www hnrblock com For more information, see Publication 1544, Reporting Cash Payments of Over $10,000 (Received in a Trade or Business). Www hnrblock com Penalties. Www hnrblock com   There are civil and criminal penalties, including up to 5 years in prison, for not filing Form 8300, filing (or causing the filing of) a false or fraudulent Form 8300, or structuring a transaction to evade reporting requirements. Www hnrblock com Table 1-3. Www hnrblock com Going Out of Business Checklists (Note. Www hnrblock com The following checklists highlight the typical final forms and schedules you may need to file if you ever go out of business. Www hnrblock com For more information, see the instructions for the listed forms. Www hnrblock com ) IF you are liable for:   THEN you may need to: Income tax □ File Schedule C or C-EZ with your Form 1040 for the year in which you go out of business. Www hnrblock com   □ File Form 4797 with your Form 1040 for each year in which you sell or exchange property used in your business or in which the business use of certain section 179 or listed property drops to 50% or less. Www hnrblock com   □ File Form 8594 with your Form 1040 if you sold your business. Www hnrblock com Self-employment tax □ File Schedule SE with your Form 1040 for the year in which you go out of business. Www hnrblock com Employment taxes □ File Form 941 (or Form 944) for the calendar quarter in which you make final wage payments. Www hnrblock com Note. Www hnrblock com Do not forget to check the box and enter the date final wages were paid on line 15 of Form 941 or line 14 of Form 944. Www hnrblock com   □ File Form 940 for the calendar year in which final wages were paid. Www hnrblock com Note. Www hnrblock com Do not forget to check box d, Final: Business closed or stopped paying wages, under Type of Return. Www hnrblock com Information returns □ Provide Forms W-2 to your employees for the calendar year in which you make final wage payments. Www hnrblock com Note. Www hnrblock com These forms are generally due by the due date of your final Form 941 or Form 944. Www hnrblock com   □ File Form W-3 to file Forms W-2. Www hnrblock com Note. Www hnrblock com These forms are generally due within 1 month after the due date of your final Form 941 or Form 944. Www hnrblock com   □ Provide Forms 1099-MISC to each person to whom you have paid at least $600 for services (including parts and materials) during the calendar year in which you go out of business. Www hnrblock com   □ File Form 1096 to file Forms 1099-MISC. Www hnrblock com Prev  Up  Next   Home   More Online Publications