The IRS Audit Blog

Posts Tagged ‘irs employment’

Question: How do I go about paying quarterly payments for self-employment tax to the IRS? What forms do I need?

I need to know how I go about setting up quarterly self-employment taxes to the IRS? That’s just the 15.3 percent that I have to pay quarterly, correct? I don’t have to worry about income tax and state tax until the end of the year, right?

Answer: You pay quarterly tax on an 1040ES, well, quarterly. It is a payment toward you total income tax.

Different states have their own rules.

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Self Employment IRS Income Tax Rate Information & Help 2009, 2010.mov

Question: I do online selling services for a company outside the US. How do i file my taxes?

1. i know i need to do the Form C(business expense net profit so on)
2. I know i need to file 1040 base on the net profit/loss from Form C
3. I know i need to fill SE form for self employment

My question is.

How do i file on the taxes that the majority of the income I get from these online sells will go back to another company because it is their transaction not mine. therefore I need to deduct these amounts on my Form C. Problem is, its very hard for me to get a legite transaction form from them. The only proof I have is the bank transaction transfer from my account to the company’s account. Is this enough info for me to file my taxes so that IRS wont freak out? Let me point out that the shipping is done outside US, therefore I have to tariffs to worry about. And, most of the customers are foreign located. The only thing I do, is provide a service where I sell their things online. SOrt of like the middlemen over the interenet. thanks dawg

Answer: WELL NORMALY YOU WOULD RECEIVED A 1099 MISC FORM BUT SINCE ITS A FOREIGN COMPANY I HIGHLY DOUBT IT. WELL NE WAYS FILE YOUR INCOME TAX ON SCHEDULE SE, 1040, AND SCHEDULE C AS YOU WOULD NORMALLY DO AND IF YOU DO HAVE ANY QUALIFYING BUSINESS EXPENSES THEN INCLUDE THEM ON SCHEDULE C REMEMBER TO PUT YOUR OCCUPATION AS SALES PERSON VERY IMPORTANT. NOW IF YOU DO GET AUDITED JUST SHOW THEM WHAT EVER PROOF YOU COULD POSSIBLY SEND THEM AS LONG AS YOU DO THE RIGHT THING IN A TIMELY MATTER THE IRS WOULD PROBABLY UNDERSTAND AND COMPROMISE JUST MAKE SURE TO PROVIDE WHAT EVER INFO RELATED TO THE COMPANY AND THERE PAYING TRANSACTIONS YOU MIGHT HAVE. ALSO KEEP MIND MAYBE U SHOULDNT BE CONDUCTING BUSINESS WITH THIS COMPANY SO BE VERY CARE FULL DO YOUR RESEARCH. REMEMBER THAT IF YOU GET YOUR TAXES FILED WITH A PROFESIONAL YOUR GONNA NEED A NOTARIZED LETTER STATING YOUR NAME AND BUSINESS TRANSACTIONS . IF YOU HAVE ANY MORE QUESTIONS EMAIL ME @ G.TAXCONSULTANT@YAHOO.COM

IRS Tax Tips for 2010 Filing Season – #8

Ten Tax Topics for Taxpayers with Tots and Teens

IRS Employment Audit Help

Related Information

Late last year, the IRS sent notices to approximately 2,000 taxpayers as part of its Employment Tax National Research Project. In February 2010, the IRS will begin examining employers specifically targeting employment taxes: FICA, Social Security, Medicare, and federal income tax withholding.

Employment Tax Audit & What to do?