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Additional Details
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Jazzybell | I was a full-time student in 2006 and didn't file taxes...? |
I made about $10,000 that year through an internship where I was considered an independent contractor (filed an W9). No taxes were taken out so being a full-time student I decided not to file taxes. This is the only year I did not file taxes.
Now I am suppose to do my finger prints for the IRS seasonal positions where they also review my past 3 years of taxes...should I still try to persue this job or lay low because people are telling me that the IRS might come after me. I really want this job but its not that important if I will end up becoming a target for the IRS.
Thanks for your help...
Additional Details
I can not find my 1099 but I did receive one because I was working for a City. No my parents did not claim me and every other year I claimed head of household. |
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Dances with Aardvarks
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The IRS will nail you on the taxes whether you do the seasonal job or not. They already know about the money you earned, though it can take 18 to 24 months for them to complete the matching process. Virtually any day now you'll be receiving a CP2000 letter from the IRS advising you that you "forgot" to report some income and billing you for the tax due. Their calculations may not be in your best interest, so you need to go proactive on this NOW.
Prepare and file the missing returns and pay the taxes due. You'll owe up to $1, 411 in Self-Employment tax and up to between $145 and $485 for income taxes depending upon any deductible expenses that you have. Add penalties and interest of about 40% to the total for late filing and late payment. The longer you hold out, the more it will cost you.
I'd pass on any IRS positions until you have filed the returns and either paid the tax or at least are on a payment plan. You won't be hired if you have any open tax issues.
Note: How did you file as Head of Household?? Do you have children living with you, or are you supporting your parents?? If you ARE supporting one or more of your own children, you may pick up enough in Earned Income Credit to cover the tax liability if you're lucky. At least it will minimize the damage significantly. If you are NOT supporting any children or closely related family members and filed HoH, you have far too many tax issues to even THINK about working for the IRS.
Edit: OK, did the child live with you and you just allowed the father to claim the exemption? If that's the case, you still qualify to file as HoH for 2006 AND claim the EIC. That will take a LOT of the sting out of your situation. Get moving on it QUICKLY though. It will be more hassle if the CP2000 letter arrives before you file. |
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Judy1
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What made you think that because you were a full time student, you didn't have to file a tax return and pay taxes?
With $10K income, you would most likely have owed a few hundred dollars of income tax, even if you filed as head of household, if you were not the person who claimed your child. But the bigger problem is the self employment tax of around $1413 on that amount, plus whatever penalties and interest have accrued over the timesince you were required to file and pay but didn't.. If you received a 1099, then it WAS reported to the IRS also and eventually they'll be notifying you that you owe this money. It can take quite awhile, well over a year, but they WILL be assesing the tax. Laying low by dropping out of the running for this job isn't going to help you any. |
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crazydave
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If the company sent you a 1099, it won't be long before the IRS catches up to you. Even if they didn't send you a 1099, you need to file for that year.
You will need to fill out schedules C and SE on form 1040 to determine the amount of tax you will need to pay. On schedule C, you can deduct certain business expenses that traditional employees aren't allowed to deduct. Check with an accountant if you're not sure.
When you file, there will be interest and penalties, but the IRS wilkl figure that out for you. |
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xtraheavy01
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I would say that you have two issues :
1) you filed HOH and you did not mention you had a child or other dependent
2) You need to file the 2006 tax return.
My advise it that you deal with these issues anyway, even if you do pursue the job, |
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Ms. Angel..
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Since you are going for fingerprints for the IRS job, you will be hired and in a couple of months your manager will call you into the office and tell you that a return was not filed and if you don't file by so and so date you will get fired.
Call IRS right now at 1-800-829-0922;1-800-829-1040;1-800-829-... 1-800-829-3903 and request they sent you or wage information for the tax year 2006. And file your tax return ASAP. When you file and you owe IRS and if you are employed by IRS you will have to full pay the amount you owe. IRS employees don't have the luxury of installment agreements and if they do then the money is taken out of their paycheck every other week.
Good luck. |
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Othniel
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File your tax return for 2006. Did you receive a 1099 misc for that year? If so, the income was reported to the IRS and you will have to deal with it and better that you try to get up to date now than later.
Were you claimed as a dependent by your parents in 2006? Did you have out of pocket expenses related to that income? Was it considered income or was it a grant? Take your paperwork to H & R Block and let them advise you and file your return. There are a lot of other factors that could be considered and this is best covered in the tax office. |
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Sharon T
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Get the 2006 tax return filed. It won't go away. If you tell them before they come after you, that is a much better scenario.
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Larry D
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i am no expert on tax law, but ethically,
i think you ought to submit an amended tax return for that year (i realize you didn't submit one) 1040x i believe. this should be done as soon as possible
you can put your payments on a schedule if you can't afford it.
if you can find deductions, you can lessen your tax burden.
if you were not a dependent, you might find that you don't owe any taxes (it might be below the limit)
but ethically, and legally, this is what i would suggest. |
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