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Category: Wages, Salaries, Tip Income
3 Articles
Orange arrow Payment Information

  DO NOT enter withholdings from any income statements such as W2, 1099, etc. in this section. (This mistake would either cause your return to be rejected by the IRS or accepted and a letter later mailed to you stating you owe this money back along with penalty and interest amounts.) You must enter t...
Orange arrow Unreported Social Security and Medicare Tax

  If you received tips of $20 or more in any month and you did not report the full amount to your employer, you must pay the social security and Medicare or railroad retirement (RRTA) tax on the unreported tips. You must also pay this tax if your Form(s) W-2 shows allocated tips that you are includin...
Orange arrow What income earned by students is taxable?

  The following kinds of income often received by students are generally taxable. Pay for services performed Self-employment income Investment income Certain scholarships and fellowships Pay for Services Performed When figuring how much income to report, include everything you r...

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