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Archive for the ‘Tax Forms’ Category

Question: as an independent contractor (1099) is there a minimum amount that you have to make to file taxes?

like if i worked a job for 1 month and the employer only paid me $400 in wages, do i need to file taxes on that?

Answer: the min. is—.01

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Question: Is it illegal to 1099 an employee if he/she is not a contractor ?

I was originally hired and paid as a regular employee and now my employer has cut my paycheck in half and has been paying me as a 1099 when nothing about my job has changed. I still have to go into the office everyday and work as usual. Isnt this illegal? I think he is doing this to avoid paying the withholding taxes, that now I will have to pay. Isnt this illegal? He is doing this with all his employees. What can I do to get him to pay all the taxes from the last 5 months this has been going on?

Answer: Yes, this is illegal.

There are forms that you can file to have the IRS make a determination of whether or not you are an employee.

There is no choice when it comes to determining whether a person is an employee or contractor. There are many criteria.

go to this site:
http://www.irs.gov/govt/fslg/article/0,,id=110344,00.html

What you have going for you is that he paid you as an employee before so the IRS will know that something has changed.

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Loan Modification Tax Tip Video from Roni Deutch, A Professional Tax Corporation

Question: How can I find out how to report income not claimed on income taxes for the years 2002 and 2003?

I worked for a Real Estate Co. for 17 years, as an office manager and agent. Unintentionally a 1099 was forgotten to be made out for Sales income. I did receive a W-2 for regular income. I no longer work for this company, and my correspondance with them has been ignored. I owe taxes on income that was not reported, and would like to get this taken care of.

Answer: Billie, you need to file an amended return for years you under paid. you will have to pay penalty and interest in all likely hood. Jerry

Global High Income Fund Inc. – Reports Earnings

NEW YORK—-Global High Income Fund Inc. , a non-diversified, closed-end management investment company seeking high current income and secondarily, capital appreciation through investments primarily in debt securities of emerging market debt issuers, today announced its performance for the fiscal first quarter ended and fiscal year-to-date ended January 31, 2010.