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Santa Maria California Form 1040 (Schedule H): What You Should Know

Use Schedule H (Form 1040) to report household employment taxes if you paid cash wages to a household employee and the wages were subject to social security (or medicare), income tax, or withheld income tax. In the past the IRS had only permitted workers to report their household work through the 1040 tax form. You are permitted to report them through an online form now with this new rule. The tax form that you used for reporting the labor tax was sent to the IRS by mail. For example, you may have employed a worker for the year and the worker are covered by social security or medicare In this case you must report them on Schedule H (Form 1040). Social Security The IRS has changed the social security withholding rules so that certain workers (who do not owe income tax) now withhold their share of social security taxes themselves. You will need to obtain a form W-4 from the worker. You may use Form 1095-A (or some other form) after you have mailed the worker a Form 1040. If the worker was also covered under other social security payouts (that does not include social security), such as a worker's compensation or unemployment benefits, you might need to include that worker on this form. You might have already reported this worker onto W-4 for tax purposes, so you need to complete Schedule H (Form 1040) and submit to the IRS. The worker should receive this Form W-4 after their first paycheck; it will be mailed to the worker's home address. Employment Taxes Most people who pay social security and other employment taxes get a pay stub during the tax year, and they must tell you exactly where the money goes. If you have workers paying taxes to the federal government, you must report on their Form W-2 what they earned, and what the wages were for each job they held. You should do the following: Income from employment and the wages for each job You should tell the worker that you must deduct social security taxes from every paycheck, and the amount of tax that the worker's share of the wages covers You should also send this information to the worker after the tax year ends. For example, let's say you had employees that paid you both Social Security and Medicare taxes, and the total amount you paid in taxes was 50,000.

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