If u file a W2 job how do you add a 1099 nec to pay taxes when you receive a refund. How long will anyone have to pay for

[Expression]

Question, how can you fix your return if you filed taxes from a W2 3.500 job. Also SSI income benefits 8.000, april 25 received a refund back this year 2023. Tax year 2022 forms  but  haven't amended it to file the $11,000 1099 contactor work . Turbo charge $150 to fix?  Still have to pay taxes.  Wonder if social security will find out if you file it and pay the taxes of $1300 or write off.how can fix this and how much time do that person have, without penalty? Why do you have to pay taxes for $11,000 that's nothing for the year. So the IRS and Social security work together in the system. Please explain because very uncomfortable 😣

[kfenwick1]

If you filed your 2022 return and now need to include income from a 1099, you will have to amend the 2022 return.  When the amendment is prepared, you will compare the amount of tax that was originally calculated without the 1099 income, and the tax calculated to include the 1099.  If the original refund you received was too high (because you did not include income), you will have to pay back the difference.  

The amended return should be filed as soon as possible to stop the accrual of interest and penalties.  The interest and penalties charged will go back to the original filing date and will continue to accrue until paid.  

I am unclear regarding the "write off" and the Social Security and IRS working together comment.  The IRS should find that error when they process and match all of the information reported to them by your empoyer, contracts, etc.  to the actual return you filed.  I would not wait for them to discover this error however since you want to stop the interest and penalties by filing this asap.  

[Expression · Accepted solution]

 receiving disability income. Do the IRS report it to social security administration after a person file and pay taxes? 

[BeckyLeeH]

Prepare a 2022 amended tax return to add additional income of $11,000 reported to you on 2022 Form 1099-NEC, and not reported on your original tax return.

Tax due on your Amended return is due when your Amended return is filed.

IRS may also bill you for penalties and interest, based on the tax due shown on your Amended return.

TIP – you may also need to file an amended State Tax return

TurboTax does not charge an additional fee to amend a tax return originally prepared using Turbo Tax, unless the amended return requires an upgrade to the version originally used.

These links may help you understand and prepare your 2022 amended return:

IRS Topic no 308, Amended returns  https://www.irs.gov/taxtopics/tc308

Turbo Tax Article on How to File an Amended Tax Return with the IRS

https://turbotax.intuit.com/tax-tips/amend-return/how-to-file-an-amended-return-with-the-irs/L6kO691...

[KarriC]

If the 1099-NEC is for Tax year 2022, and you've already filed your 2022 return and received your refund, you will need to amend your 2022 return.

If you owe after you amend, there will likely be interest and a penalty as the taxes were due on April 15 of 2023 (for tax year 2022).

If you prepared the return yourself, you will amend the return. But fear not! TurboTax Experts can help you do this. Just click on the Live Help icon.

Assuming you used TurboTax's free product to file your 2022 return (since you only had a W2 and SSI), you will need to pay for the version that includes Self-Employment. When you start the amendment and add the 1099-NEC, the program will tell you you need to upgrade your tax product. 

When you are issued a 1099-NEC, it means you're self-employed and have a "business" even if it's not a brick and mortar store. This means you can deduct expenses for the work you did as an independent contractor. 

Here's a hypothetical:

• I run a flower business from home and make $1,000 in income (think of this as 1099-NEC income)
• I have expenses for the flowers and materials I use ($200)

I will report the 1090-NEC income under my "business" Schedule C $1,000

I will be able to deduct the expenses of $200 on my Schedule C

This means that my "business" made $800, and that's the amount you pay Self-Employment tax on. The amount will also get added to your other sources of income and be taxed accordingly (this is income tax).

Self-Employment tax covers your Social Security and Medicare taxes. When you're a W-2 employee, half of those taxes are paid by the company and half are paid by you. When you're self-employed, you pay both halves (although you get a tax adjustment for half of the amount). This "banks" up your Social Security and Medicare so that you have it when you retire.

Taxes and rules can be confusing! When you're an independent contractor, you're not given an instruction manual, so I'm including a couple links to helpful information for Self-Employed/Independent Contractors below.

My last suggestion: if you're Self-Employed, make sure you pay in some withholding at least each quarter (every 3 months). Remember, you don't have an employer taking it out of your paycheck before you get it, you have to do the withholding yourself. 

TurboTax Self-Employment Tax Hub

TurboTax Self-Employment Tax

TurboTax Beginner's Self-Employed Tax Guide 

[Expression]

So this means that my social security monthly payment will get deducted because of this 1099 job after I file and pay taxes? I don't want to lose my SSI/SSA income because I get sick alot. 

Will they find out the social security office because I worked a 11099nec job. I need more money $8000 a year isn't enough 

[Expression]

So this means that my social security monthly payment will get deducted because of this 1099 job after I file and pay taxes? I don't want to lose my SSI/SSA income because I get sick alot. 

I need my SSI because of my health insurance and I sometimes get sick. Will this hurt me because of the job 

[Expression]

Will this get reported to the social security office and I will lose my benefits because of this job. I am afraid they will take my social security income for being disabled? I need to know this answer 

[carolineb]

The company or person that issued you the 1099-NEC has also issued a copy directly to the IRS. If you choose not to file this on a tax return, the IRS will issue you a notice, generally 2 years after the due date of the return, with a tax assessment including interest and penalties on any amount due. 

As for the SS administration, the law protects your tax return information from disclosure to other parties by the Internal Revenue Service.  However, there are important exceptions that you should be aware of. IRC Section 6103(l)(1) provides that return information related to taxes imposed under chapters 2, 21, and 24 may be disclosed to the Social Security Administration (SSA) as needed to carry out its responsibilities under the Social Security Act. Chapter 2 relates to self-employment income, which is reported on a 1099-NEC. 

In conclusion, it is possible that the Social Security Administration may work in connection with the IRS. Here is a link to a brochure with contact information that may assist in answering your questions about your situation:  Working While Disabled: How We Can Help

Best of luck! 

[Expression]

How do I fix the state tax part. And also how do it goes towards my SSI tax income 

[KarriC]

If you're doing your amendment in TurboTax, once you finish the federal taxes, the information will flow through to your state tax form. Your state form will populate based on your taxpayer information entered. It's quite easy!

While I know lots about tax subjects, I don't know much about SSI. Here's a link to SSI information from the Social Security Administration:

Supplemental Security Income (SSI)

A quick look at the site shows me that it should be easy to find what you're looking for. It will show you who can get SSI and how much you could get.