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 - 2001
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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.
Puerto Rico. Check with your local tax
use either ‘‘optional method’’ in Part II
General Instructions
office for more details.
or VI. See page 5.
Note: Bona fide residents of Puerto
When To File
Rico can use Form 1040-SS or Form
Changes To Note
1040-PR to claim the additional child
•
If you file on a calendar year basis, file
For 2001, the maximum amount of
tax credit.
by April 15, 2002. If you file on a fiscal
self-employment income subject to
year basis, file by the 15th day of the
social security tax is $80,400.
Additional Information
•
4th month after the close of your fiscal
Bona fide residents of Puerto Rico
year.
For more details, see Pub. 533,
who have at least three qualifying
Self-Employment Tax, available from
children who were under age 17 may
Where To File
most IRS offices. See the instructions
be able to use Form 1040-SS to claim
for Schedules C and F (Form 1040)
the additional child tax credit. For
Internal Revenue Service Center,
for information on business and farm
details, see the instructions for Part VII
Philadelphia, PA 19255.
income and expenses.
on page 6.
•
Form 1040-SS can now be filed
Amount You Owe
For details on 2001 tax law changes,
jointly. If your spouse also had
see Pub. 553, Highlights of 2001 Tax
Enclose your check or money order for
self-employment income, complete
Changes.
the full amount with Form 1040-SS.
Form 1040-SS, Part V. For details, see
If you expect to owe SE tax of
Make it payable to the “United States
Filing Status on page 2.
$1,000 or more for 2002, you may have
•
Treasury.” Do not send cash. Write
If you want the IRS to discuss your
to make estimated tax payments. Use
“2001 Form 1040-SS” and your name,
2001 Form 1040-SS with a family
Form 1040-ES, Estimated Tax for
address, daytime phone number, and
member, friend, or any other person
Individuals, to make estimated tax
social security number (SSN) on your
you choose, check the “Yes” box in the
payments.
payment. If you are filing a joint return,
Third Party Designee area of Form
enter the SSN shown first on your Form
1040-SS and enter the requested
Who Must File
1040-SS.
information. See Third Party Designee
You must file Form 1040-SS if:
on this page for details.
To help us process your payment,
•
enter the amount on the right side of
The area where you sign the return is
1. You, or your spouse if filing a
the check like this: $ XXX.XX. Do not
now on page 5 of Form 1040-SS. We
joint return, had net earnings from
use dashes or lines (for example, do
also added a space for your daytime
self-employment (from other than
not enter “$ XXX – ” or “$ XXX
00
/
”).
phone number. For details, see page 2.
church employee income) of $400 or
100
•
Form 1040-SS may also be used to
more (or you had church employee
Third Party Designee
claim any excess social security tax
income of $108.28 or more — see
withheld.
Church Employees on page 2); and
If you want to allow a friend, family
2. You do not have to file Form
member, or any other person you
Purpose of Form
1040 with the United States; and
choose to discuss your 2001 tax return
3. You are a resident of:
Use Form 1040-SS to report net
with the IRS, check the “Yes” box in the
•
Guam,
earnings from self-employment and pay
“Third Party Designee” area on page 5
•
American Samoa,
self-employment (SE) tax. The Social
of Form 1040-SS. Also enter the
•
The Virgin Islands,
Security Administration (SSA) uses this
designee’s name, phone number, and
•
The CNMI, or
information to figure your benefits under
any five numbers the designee chooses
•
Puerto Rico. (You may file either
the social security program. SE tax
as his or her personal identification
Form 1040-PR or Form 1040-SS.)
applies no matter how old you are and
number (PIN). But if you want to allow
even if you already receive social
the paid preparer who signed your
You must also file Form 1040-SS to
security or Medicare benefits. If you are
return to discuss it with the IRS, just
pay any employee social security and
otherwise required to file Form
enter “Preparer” in the space for the
Medicare tax on unreported tips or
1040-SS, also use it to pay any
designee’s name. You do not have to
uncollected employee social security
household employment taxes.
provide the other information
and Medicare tax on tips or group-term
requested.
life insurance (see the instructions on
You may also be required to file an
page 5 for lines 8b and 12).
income tax return with the government
If you check the “Yes” box, you, and
of Guam, American Samoa, the Virgin
Note: Even if you have a loss or little
your spouse if filing a joint return, are
Islands, the Commonwealth of the
income from self-employment, it may
authorizing the IRS to call the designee
Northern Mariana Islands (CNMI), or
benefit you to file Form 1040-SS and
to answer any questions that may arise
Cat. No. 26341Y
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