How many months do you have to work before you pay/file taxes?

Question

also if anybody knows any extra information on the 1099 tax form, please post.

Answer 1

Not sure what You mean... Tax Freedom Day is 4/30/2007 on average. It depends on the wage earners income, state of residence, property owner or not, and source of income.

You have to pay all fed income taxes by (postmarked) 11:59 PM 4/17 unless you were flooded in the northeast. You can get an extension on filing, but not paying, from the fed by mailing a request by the same deadline.

Answer 2

It's not based upon how many days or months, but how much money you made. If you earned $400 or more in self-employment income you MUST file a return. You probably had that nailed the first week or two of 2006, so 2 weeks probably would work for a general answer.

Answer 3

If you made any money in 2006, then you need to file on April 15, 2007.

If you didn't make any money, then you need to file because you're probably due a credit of some sort.

The 1099 is basically a receipt.
It tells the IRS that you were given xx amount of money, but you weren't an employee.
(work as an independent contractor, won on a slot machine, sold stocks, etc.)
It's up to you to explain to the IRS why you got the money and to figure out how to calculate the taxes on it.

If you were an independent contractor, then you will need to file a Schedule C (Self-Employment) form attached to your 1040.

Answer 4

It's not how long you worked, it's how much you made. On a 1099, if you made over $400 you have to file. You'll probably owe self-employment tax in addition to any income tax that you owe.

Answer 5

Every penny you earn has to be shown. but if you earned less than $8,450, then you don't have to file.