The Social Security Administration wants to make sure you get credit for working towards your social security. You must pay Medicare and Social Security Tax on income earned. The IRS collects it for them on Form SE for the self-employed. While you may not feel self-employed, you must report your income and pay those taxes using the only form available.
Because you are now considered a business, you can also deduct any expenses you may have. You also qualify to deduct 20% of the income from the business and not pay taxes on it under QBI. The IRS requires you to take every deduction to which you are entitled. It will be an easy click of a button and poof, lower tax bill.
The IRS does not open until February 12. They work on forms from most common to least common. See Federal form availability for expected release dates. Once released, we work to incorporate them quickly.
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