Instructions For Form 1040-Ss - U.s. Self-Employment Tax Return (Including The Additional Child Tax Credit For Bona Fide Residents Of Puerto Rico) - Internal Revenue Service - 2007 Page 8
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8Figure your share of gross income
other papers. You must fill in all parts of
We may disclose your tax information to
from a nonfarm partnership in the same
the tax form that apply to you.
the Comptroller General of the United
manner as a farm partnership. For details,
States to permit the Comptroller General
You are not required to provide the
see Farm Optional Method, on page 7.
to review the Internal Revenue Service.
information requested on a form that is
We may disclose your tax information to
subject to the Paperwork Reduction Act
Using Both Optional Methods
Committees of Congress; federal, state,
unless the form displays a valid OMB
If you can use both methods, you can
and local child support agencies; and to
control number. Books or records relating
report less than your total actual net
other federal agencies for the purposes of
to a form or its instructions must be
earnings from farm and nonfarm
determining entitlement for benefits or the
retained as long as their contents may
self-employment, but you cannot report
eligibility for and the repayment of loans.
become material in the administration of
less than your actual net earnings from
We may also disclose this information to
any Internal Revenue law.
nonfarm self-employment alone.
other countries under a tax treaty, or to
We ask for tax return information to
If you use both methods to figure net
federal and state agencies to enforce
carry out the tax laws of the United
earnings from self-employment, you
federal nontax criminal laws, or to federal
States. We need it to figure and collect
cannot report more than $1,600 of net
law enforcement and intelligence
the right amount of tax.
earnings from self-employment.
agencies to combat terrorism.
If you do not file a return, do not
Keep this notice with your records. It
Disclosure, Privacy Act, and
provide the information we ask for, or
may help you if we ask you for other
Paperwork Reduction Act Notice. The
provide fraudulent information, you may
information. If you have questions about
IRS Restructuring and Reform Act of
be charged penalties and be subject to
the rules for filing and giving information,
1998, the Privacy Act of 1974, and
criminal prosecution. We may also have
call or visit any IRS office.
Paperwork Reduction Act of 1980 require
to disallow any deductions shown on the
The time needed to complete and file
that when we ask you for information we
tax return. This could make the tax higher
this form will vary depending on individual
must first tell you our legal right to ask for
or delay any refund, and the calculation of
circumstances. The estimated average
the information, why we are asking for it,
your social security benefits may be
time is:
and how it will be used. We must also tell
affected. Interest may also be charged.
you what could happen if we do not
Generally, tax returns and return
Recordkeeping . . . . . . . .
5 hr., 34 min.
receive it and whether your response is
information are confidential, as stated in
Learning about the law or
voluntary, required to obtain a benefit, or
section 6103. However, section 6103
the form . . . . . . . . . . . . .
49 min.
mandatory under the law.
allows or requires the IRS to disclose or
Preparing the form . . . . . .
3 hr., 43 min.
This notice applies to all papers you
give the information shown on your tax
Copying, assembling, and
file with us, including this tax return. It
return to others as described in the Code.
sending the form to the IRS
1 hr., 16 min.
also applies to any questions we need to
For example, we may disclose your tax
If you have comments concerning the
ask you so we can complete, correct, or
information to the SSA for use in
accuracy of these time estimates or
process your return; figure your tax; and
calculating your social security benefits;
suggestions for making this form simpler,
collect tax, interest, or penalties.
to the Department of Justice, to enforce
we would be happy to hear from you. You
the tax laws, both civil and criminal; and
Our legal right to ask for information is
can write to the Internal Revenue Service,
to cities, states, the District of Columbia,
sections 6001, 6011, and 7651 and their
Tax Products Coordinating Committee,
U.S. commonwealths or possessions, and
regulations. They say that you must file a
SE:W:CAR:MP:T:T:SP, 1111 Constitution
certain foreign governments to carry out
return or statement with the IRS and pay
Ave. NW, IR-6526, Washington, DC
their tax laws.
to the United States Treasury any tax for
20224. Do not send the form to this
which you are liable. Your response is
We may disclose your tax information
address. Instead, see Where To File on
mandatory under these sections. Section
to other persons as necessary to obtain
page 1.
6109 requires that you provide your SSN
information which we cannot get in any
on what you file. This is so we know who
other way in order to determine the
you are, and can process your return and
amount of or to collect the tax you owe.
-8-
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