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Tuesday, May 27, 2008

About Taxes: Checking on Your Social Security Earnings

About.com   Taxes
In the Spotlight | More Topics |
  from William Perez
I had a lively research project last weekend. One of my clients was reviewing his annual Social Security statement, and discovered that he didn't get credit for self-employment earnings we reported on his tax return. After some research we found out why. There's a time limit for reporting income to the IRS in order to get credit for Social Security purposes.

 
In the Spotlight
Checking on Your Social Security Earnings
The time limit impacts to types of taxpayers: self-employed people who report their income on Schedules C or F. Those returns need to be filed within the time limit to earn Social Security credits. The time period also effects people who need to correct the earnings reported to Social Security, for example from an incorrect W-2....read more

 
         More Topics
Dealing with Foreign Wages
This week we've heard from not just one, but two About.com readers on the forum who are dealing with foreign wages. One is living in Australia, and the other works in the US for a Canadian employer. How are these wages reported for US tax purposes?...read more

 
Canceled Debts and Mortgages
I've expanded by article on canceled debts to cover all the situations that a homeowner might face when dealing with a foreclosure, short sale or restructured mortgage for their house. There's a number of tax provisions that will help when dealing with canceled debts...read more

 
 
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