I need desperate help!!!! about taxes?

Question

I need to pay the diference of my taxes in 2006 of 1000 dollars that mistakenly I did not report.

please how I calculate this from the follow info?

Taxable income, Line 27= 44,781

Tax, line 28 = 5961

education credits, line 31 = 1423

Self-employee tax = 0

total tax, line 37 = 4538

adding a $1000 income (Other income) what shoudl I have to send to IRS?

Answer 1

Hi there- First, make sure that it is taxable. Is there a form that someone sent you and the IRS as well? If that's the case, then you do need to act. If not, what was means of income? Did you sell a car for $1000 more than you paid for it? Please give more details on the nature of the activity that produced the $1000.

Regards-

Answer 2

Not enough info.

You get your 1040 that was filed, then using that info and the omitted $1000, file a 1040X, amended return.  It has 3 columns, original filing, additional amount, corrected filing.  Increased tax liability shouldn't be much.

If this is not wages, but self-employment income, then you may need to file schedule C or C-EZ.

Answer 3

File an amended return.  Go to www.irs.gov to find the exact details on how to file an amended return.  $1,000 in extra income will probably result in $150-$350 extra in taxes owed.  Don't forget to amend your state return either.

Answer 4

Here's a link to the amended form http://www.irs.gov/pub/irs-pdf/f1040x.pd...  and here's a link to the instructions http://www.irs.gov/pub/irs-pdf/i1040x.pd...  The form is pretty easy to fill out.  It has a column for your original amount, a place for the change and a column for the new amount.  There's also a place on page 2 for an explanation of the change.

Answer 5

File amended tax return. If it is self employed income, then you will also pay SE tax.