OK, i finally got that response from the IRS. I asked a question about taxes for self-employed writers. Here is the long, confusing and mind dizzying response I GOT:
s a self employed individual, there are no quarterly income reporting
requirements for Federal employment tax purposes.
As an Individual you may be required to file an Annual Tax Return. The
tax requirements for reporting and or paying self employment taxes
depends on whether you are considered a United States Resident Alien or a
Nonresident Alien at the end of your tax year. If you are filing a tax
return as a U.S. Resident Alien, your self-employment income and
expenses will be reported on Form 1040, U.S. Individual Income Tax Return,
Form 1040, Schedule C, Profit or Loss from Business, or you may qualify to
use Form 1040, Schedule C-EZ, Net Profit from Business. You will also
need to use Form 1040, Schedule SE, Self-Employment Tax, to compute and
report your Social Security and Medicare tax, if you had net earnings
from self-employment of $400 or more. Since there is no withholding on
your Self-Employment Income, you are responsible for Federal income tax
and self-employment taxes on your income as an independent contractor.
You may need to make quarterly estimated tax payments. This is done
using Form 1040-ES, Estimated Tax for Individuals. For additional
information, please refer to Publication 519, U.S. Tax Guide for Aliens, Pub.
505, Tax Withholding and Estimated Tax and Form 1040ES Estimated Tax
for Individuals and Instructions. If you are considered as a Nonresident
Alien when you file your tax return, you would not be subject to
self-employment tax.
As a self-employed individual you may be entitled to a federal tax
refund if you overpay your federal tax or are entitle to certain refundable
credits. For information concerning refunds, please review publication
17, Your Federal Income Tax for Individuals.
I am even more in the dark now than I had been before I went to them for help! GEESH!
s a self employed individual, there are no quarterly income reporting
requirements for Federal employment tax purposes.
As an Individual you may be required to file an Annual Tax Return. The
tax requirements for reporting and or paying self employment taxes
depends on whether you are considered a United States Resident Alien or a
Nonresident Alien at the end of your tax year. If you are filing a tax
return as a U.S. Resident Alien, your self-employment income and
expenses will be reported on Form 1040, U.S. Individual Income Tax Return,
Form 1040, Schedule C, Profit or Loss from Business, or you may qualify to
use Form 1040, Schedule C-EZ, Net Profit from Business. You will also
need to use Form 1040, Schedule SE, Self-Employment Tax, to compute and
report your Social Security and Medicare tax, if you had net earnings
from self-employment of $400 or more. Since there is no withholding on
your Self-Employment Income, you are responsible for Federal income tax
and self-employment taxes on your income as an independent contractor.
You may need to make quarterly estimated tax payments. This is done
using Form 1040-ES, Estimated Tax for Individuals. For additional
information, please refer to Publication 519, U.S. Tax Guide for Aliens, Pub.
505, Tax Withholding and Estimated Tax and Form 1040ES Estimated Tax
for Individuals and Instructions. If you are considered as a Nonresident
Alien when you file your tax return, you would not be subject to
self-employment tax.
As a self-employed individual you may be entitled to a federal tax
refund if you overpay your federal tax or are entitle to certain refundable
credits. For information concerning refunds, please review publication
17, Your Federal Income Tax for Individuals.
I am even more in the dark now than I had been before I went to them for help! GEESH!
) go check it out. It is a more understandable than that ancient