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Elgin Illinois Form 1040 (Schedule H): What You Should Know

Yes No If yes, provide the number and date. Do not include any interest paid on (payments you make directly to the employee from your own account). B. Did you pay any one household employee¬† interest on money borrowed for personal purposes for the calendar year? Yes No Do not include interest on borrowings for ‚Äč (payments made directly to the employee from your own account). C. Did you pay any one household employee an¬† interest payment of at least 10% from your personal account in the previous calendar year? Yes, a) If so,¬† give the rate paid and the payment date. If you made two or more payments on this form,¬† count only the first payment as interest payment and provide the amount¬† paid, the interest rate, and the payment date. If you made at least two¬† personal payments on this form (or one personal and one business payment),¬† count only the first payment as interest payment and provide the amount¬† paid. D.¬† If, in the year 2023 or 2, a household employee worked on the premises of a business owned ‚Äč by, or for a member of the household, and earned income that is subject to social security¬† and Medicare taxes, and the gross income derived from this work exceeds 300,000, you will are taxed under Social Security, Medicare, and with withheld income Taxes for 2023 are not taxable. No income tax will be imposed on the 300,000 of gross income derived from the business activities. A. Where did you work in 2016?¬† For each household member (and parent, if applicable), provide the work date, the dates of work, and a description of the work. Each household member must provide the total household income from all work activities in the preceding calendar year or the year of the worker's death. B.¬† For each household member (and parent, if applicable), provide the work date, the dates of work, and a description of the work. Each household member must provide the total household income from all work activities in the preceding calendar year or the year of the worker's death. C. How long did the work last? For each household member (and parent, if applicable), provide the length of work and any other additional information the worker might need to provide.

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