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 - 2003
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Department of the Treasury
Internal Revenue Service
Instructions for Form
1040-SS
U.S. Self-Employment Tax Return (Including the Additional Child Tax Credit for
Bona Fide Residents of Puerto Rico)
Section references are to the Internal Revenue Code.
•
Additional Information
Claim excess social security tax
General Instructions
withheld.
For more details, see Pub. 533,
•
Claim the additional child tax credit
Self-Employment Tax, available from
Changes To Note
(bona fide residents of Puerto Rico
most IRS offices. See the instructions
only).
•
•
For 2003, the maximum amount of
for Schedules C and F (Form 1040)
Claim the health coverage tax credit
for information on business and farm
self-employment income subject to
(bona fide residents of Puerto Rico
income and expenses.
social security tax is $87,000.
only).
•
The maximum amount per child for
For details on 2003 tax law changes,
the additional child tax credit has
see Pub. 553, Highlights of 2003 Tax
When To File
increased to $1,000. But you must
Changes.
If you file on a calendar year basis, file
reduce your credit by any advance child
If you expect to owe SE tax of
by April 15, 2004. If you file on a fiscal
tax credit payment you received in
$1,000 or more for 2004, you may have
year basis, file by the 15th day of the
2003. For details, see the instructions
to make estimated tax payments. Use
4th month after the close of your fiscal
for Part II on page 4.
Form 1040-ES, Estimated Tax for
year.
Individuals, to make estimated tax
Purpose of Form
payments.
Where To File
Residents of the Virgin Islands, Guam,
Who Must File
Internal Revenue Service Center,
American Samoa, the Commonwealth
Philadelphia, PA 19255.
of the Northern Mariana Islands, and
You must file Form 1040-SS if:
Puerto Rico use Form 1040-SS to:
1. You, or your spouse if filing a
•
Amount You Owe
Report net earnings from
joint return, had net earnings from
self-employment and pay
self-employment (from other than
Enclose your check or money order for
self-employment (SE) tax. The Social
church employee income) of $400 or
the full amount with Form 1040-SS.
Security Administration uses this
more (or you had church employee
Make it payable to the “United States
information to figure your benefits under
income of $108.28 or more — see
Treasury.” Do not send cash. Write
the social security program. SE tax
Church Employees on page 2); and
“2003 Form 1040-SS” and your name,
applies no matter how old you are and
2. You do not have to file Form
address, daytime phone number, and
even if you already are receiving social
1040 with the United States; and
social security number (SSN) on your
security or Medicare benefits.
3. You are a resident of:
payment. If you are filing a joint return,
•
•
Guam,
enter the SSN shown first on your Form
Report and pay household
•
American Samoa,
employment taxes.
1040-SS.
•
•
The Virgin Islands,
Report and pay employee social
To help process your payment, enter
•
The CNMI, or
security and Medicare tax on
•
the amount on the right side of the
Puerto Rico. (You may file either
unreported tips or uncollected social
check like this: $ XXX.XX. Do not use
Form 1040-PR or Form 1040-SS.)
security and Medicare tax on tips or
dashes or lines (for example, do not
group-term life insurance (see the
enter “$ XXX – ” or “$ XXX
/
”).
00
Note: Even if you have a loss or little
100
instructions on page 4 for Part I, line 5).
income from self-employment, it may
•
Claim excess social security tax
Third Party Designee
benefit you to file Form 1040-SS and
withheld.
use either ‘‘optional method’’ in Part VI.
If you want to allow a friend, family
•
Claim the additional child tax credit
See page 7.
member, or any other person you
(bona fide residents of Puerto Rico
If 2 and 3 above apply, you also
choose to discuss your 2003 tax return
only).
must file Form 1040-SS (or Form
with the IRS, check the “Yes” box in the
•
Claim the health coverage tax credit
1040-PR in Spanish if you are a
“Third Party Designee” area on page 1
(bona fide residents of Puerto Rico
resident of Puerto Rico) to:
of Form 1040-SS. Also enter the
•
only).
Report and pay household
designee’s name, phone number, and
You may also be required to file an
employment taxes.
any five numbers the designee chooses
•
income tax return with the government
Report and pay employee social
as his or her personal identification
of Guam, American Samoa, the Virgin
security and Medicare tax on
number (PIN). But if you want to allow
Islands, the Commonwealth of the
unreported tips or uncollected social
the paid preparer who signed your
Northern Mariana Islands (CNMI), or
security and Medicare tax on tips or
return to discuss it with the IRS, just
Puerto Rico. Check with your local tax
group-term life insurance (see the
enter “Preparer” in the space for the
office for more details.
instructions on page 4 for Part I, line 5).
designee’s name. You do not have to
Cat. No. 26341Y
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