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 - 2004
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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)
•
information on business and farm
Claim the health coverage tax credit
General Instructions
income and expenses.
(bona fide residents of Puerto Rico
Section references are to the Internal
only).
For details on 2004 tax law changes,
Revenue Code.
see Pub. 553, Highlights of 2004 Tax
When To File
Changes.
What’s New
If you file on a calendar year basis, file
If you expect to owe SE tax of
For 2004, the maximum amount of
by April 15, 2005. If you file on a fiscal
$1,000 or more for 2005, you may have
self-employment income subject to
year basis, file by the 15th day of the
to make estimated tax payments. Use
4th month after the close of your fiscal
social security tax is $87,900.
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,
Internal Revenue Service Center,
Who Must File
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:
Amount You Owe
•
1. You, or your spouse if filing a
Report net earnings from
joint return, had net earnings from
Enclose your check or money order for
self-employment and pay
self-employment (from other than
the full amount with Form 1040-SS.
self-employment (SE) tax. The Social
church employee income) of $400 or
Make it payable to the “United States
Security Administration uses this
more (or you had church employee
Treasury.” Do not send cash. Enter
information to figure your benefits under
income of $108.28 or more — see
“2004 Form 1040-SS” and your name,
the social security program. SE tax
Church Employees on page 2); and
address, daytime phone number, and
applies no matter how old you are and
2. You do not have to file Form
social security number (SSN) on your
even if you already are receiving social
1040 with the United States; and
payment. If you are filing a joint return,
security or Medicare benefits.
•
3. You are a resident of:
enter the SSN shown first on your Form
Report and pay household
1040-SS.
a. Guam,
employment taxes.
•
b. American Samoa,
Report and pay employee social
To help process your payment, enter
c. The Virgin Islands,
security and Medicare tax on
the amount on the right side of the
d. The CNMI, or
unreported tips or uncollected social
check like this: $ XXX.XX. Do not use
e. Puerto Rico. (You may file either
security and Medicare tax on tips or
dashes or lines (for example, do not
Form 1040-PR or Form 1040-SS.)
group-term life insurance (see the
enter “$ XXX – ” or “$ XXX
00
/
”).
100
instructions on page 4 for Part I, line 5).
•
Third Party Designee
Claim excess social security tax
Even if you have a loss or little
withheld.
TIP
income from self-employment, it
If you want to allow a friend, family
•
Claim the additional child tax credit
may benefit you to file Form
member, or any other person you
(bona fide residents of Puerto Rico
1040-SS and use either ‘‘optional
choose to discuss your 2004 tax return
only).
method’’ in Part VI. See page 7.
with the IRS, check the “Yes” box in the
•
Claim the health coverage tax credit
Third Party Designee area on page 1 of
If (2) and (3) above apply, you also
(bona fide residents of Puerto Rico
Form 1040-SS. Also enter the
must file Form 1040-SS (or Form
only).
designee’s name, phone number, and
1040-PR in Spanish if you are a
any five numbers the designee chooses
resident of Puerto Rico) to:
You may also be required to file an
•
as his or her personal identification
Report and pay household
income tax return with the government
number (PIN). But if you want to allow
employment taxes.
of Guam, American Samoa, the Virgin
•
the paid preparer who signed your
Report and pay employee social
Islands, the Commonwealth of the
return to discuss it with the IRS, just
security and Medicare tax on
Northern Mariana Islands (CNMI), or
enter “Preparer” in the space for the
unreported tips or uncollected social
Puerto Rico. Check with your local tax
designee’s name. You do not have to
security and Medicare tax on tips or
office for more details.
provide the other information
group-term life insurance (see the
requested.
instructions on page 4 for Part I, line 5).
Additional Information
•
Claim excess social security tax
If you check the “Yes” box, you, and
For more details, see Pub. 533,
withheld.
your spouse if filing a joint return, are
•
Self-Employment Tax, available from
Claim the additional child tax credit
authorizing the IRS to call the designee
most IRS offices. See the instructions
(bona fide residents of Puerto Rico
to answer any questions that may arise
for Schedules C and F (Form 1040) for
only).
during the processing of your return.
Cat. No. 26341Y
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