what to list as occupation on tax return

Business and Occupation Tax A Business and Occupation Tax is imposed on any persons (s) engaging or continuing with the state in any public service or utility business, except railroad, railroad car, â¦ Stack Exchange network consists of 176 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, share their knowledge, and build their careers. I can think of a lot of different words I could use to describe my occupation. This section provides links to a variety of forms that businesses will need while filing, reporting, and paying business taxes. I just graduated college in December and I just lost my job of â¦ It only takes a minute to sign up. Why are non-folding tyres still manufactured? Home Rule and Non-home Rule Sales & Use Taxes. (Note: I am not referring to the "Principal Business" field on Schedule C, lines A and B.). site design / logo © 2021 Stack Exchange Inc; user contributions licensed under cc by-sa. We will keep this information for 2017 and earlier tax returns and 2026 and later tax returns. I just graduated college in December and I just lost my job of 2 years a month ago, currently searching for another one. The annual Occupation Tax return is due on May 1. information with the IRS and to pay the occupational tax on wagering. Attorney Occupational Tax Return Department of Revenue Services State of Connecticut PO Box 5031 Hartford CT 06102-5031 (Rev. There is an automatic seven-month extension to file your Occupation Tax return, but you must pay 90 percent of the tax â¦ However, many cities allow retailers to itemize the occupation tax on their customerâs bill or invoice as a separate line item. The list should not be construed as all-inclusive. You must file your annual Occupation Tax return by May 1. The only use I can imagine is that if you write down an occupation that typically has a very high income ("railroad tycoon", "oil baron", "international crime lord"), and then report a tiny income, it might make you more likely to be audited. How do you analyze master games without annotations? A Business and Occupation Tax is imposed on any persons(s) engaging or continuing with the state in any public service or utility business, except railroad, railroad car, express, pipeline, telephone and â¦ Thanks for contributing an answer to Personal Finance & Money Stack Exchange! If the due date falls on a weekend, the return is due by the next business day. List that. of tax return occupation data.1 By late 1979, the IRS had concluded that the individual tax return could be a dependable resource for occupational data (Koteen and Grayson, 1979). By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy. Are there any requirements or Also, if the IRS grants an extension to file your federal return â¦ Local Taxes 4. Receipts from foreign diplomats (via federal treaty) 2. I'm filing my taxes via TurboTax and I can't continue without listing an occupation. 2020 Occupation Tax Return M30 Print or Type Has a federal examination been finalized? Flied taxes on 10 Feb, accepted 12 Feb, a couple of days later, tax topic 152, what's happening. The City and County of Denver occupational privilege tax â¦ I'm filing my taxes via TurboTax and I can't continue without listing an occupation. They may be able to try and match the occupation and the general levels and types of income, but for self-employed there's a more precise and reliable field on Schedule C and for employees they don't really need to do this since everything is reported on W2 anyway. Enter what best â¦ It doesn't generally matter, and I'm not sure if it is in fact in use by the IRS other than for general statistics (like "this year 20% of MFJ returns were with one spouse being a 'homemaker'"). You must pay the occupational tax if you accept taxable wagers for yourself or another person. The occupation tax is imposed on the business, similar to income taxes and property taxes. I don't even know that I put down a consistent answer before I used tax software to complete the forms. To claim a deduction for â¦ You must pay at least 90 percent of your tax by â¦ Municipalities and school districts were given the right to collect a $10.00 per capita tax under ACT 511, and School Districts an additional $5.00 under ACT 679 â School Tax Code. You put what your last job title was, where the pay from your W2 shows. the list, enter it at X item 1 on the tax return. Income from sales of the copies is reported under the Manufacturing B&O tax classification, as well as the Retailing and/or Wholesaling tax classifications. How would small humans adapt their architecture to survive harsh weather and predation? Illinois Telecommunications Access Corporation (ITAC) Assessment. Asking for help, clarification, or responding to other answers. In the 2016 1040NR, the field actually says "Occupation in the United States" which is even more confusing, if I have an occupation but it is not in the United States. Should I file an amended return as I wrongly filed Form 1040 instead of Form 1040 NR? Join Yahoo Answers and get 100 points today. (list years) Is a federal examination now in progress? Payment Due Date. Which great mathematicians had great political commitments? It is a type of gross receipts tax â¦ Which boxes on IRS Form 1040 Line 6 need to be filled? Live Adult Entertainment Facility Surcharge. Does John the Baptist's witness imply the pre-incarnate existence of Jesus? Local Automobile Renting Occupation â¦ #43 Artesia, CA 90701 562-924-8922 Tax Relief Lawyer. Personal Finance & Money Stack Exchange is a question and answer site for people who want to be financially literate. IRS Form 1127. Washingtonâs B&O tax â¦ â¦ The state B&O tax is a gross receipts tax. Tax regulations are constantly changing, and for brevityâs sake, there are many specific details that we cannot get into here. Wife of drug kingpin El Chapo arrested in Virginia, Pat Sajak called out for mocking contestant, Womanâs license mistakenly features her in a face mask, Top volleyball duo boycott country over bikini ban, 'Bachelor' hopeful suffers horrifying skydiving accident, Jobless workers may face a surprise tax bill, Raiders player arrested in Texas street-racing incident, Texas AG was in Utah after historic freeze back home, Actress confirms engagement to NFL star Aaron Rodgers, LPGA star shares wrenching story of abuse as a child, Shearer will no longer voice Black 'Simpsons' character. Was I a programmer, computer programmer, software developer? Occupation and industry specific guides You must include all the income you received during the financial year in your tax return, including salary and wages and allowances. This forum discussion suggests the answers are "it really doesn't matter" and "they don't", but it doesn't seem authoritative. Important: All miscellaneous deductions subject to 2% of your Adjusted Gross Income (AGI) are eliminated for Tax Years 2018-2025. What do I put as occupation on tax return? Robert J. Suhajda, MS,CPA Attorney-At-Law 17721 Norwalk Blvd. Total energy from KS-DFT: How reliable is it and why? Washington, unlike many other states, does not have an income tax. If IRS instructions for Form 1040 are not available, should taxpayers wait to file until they are published? Receipts from permanent guests-those who occupy, or have the right to occupy, a room or rooms for at least 30 consecutive days 1. Why did multiple nations decide to launch Mars projects at exactly the same time? It is measured on the value of products, gross proceeds of sale, or gross income of the business. If that date falls on a weekend, the return is due by the next business day. What do they care when I stopped beating my wife?? To subscribe to this RSS feed, copy and paste this URL into your RSS reader. You can sign in to vote the answer. However, this list â¦ Visual design changes to the review queues, Opt-in alpha test for a new Stacks editor, Can this year's free extension-to-pay be filed electronically? English equivalent of Vietnamese "Rather kill mistakenly than to miss an enemy. rev 2021.2.23.38630, The best answers are voted up and rise to the top, Personal Finance & Money Stack Exchange works best with JavaScript enabled, Start here for a quick overview of the site, Detailed answers to any questions you might have, Discuss the workings and policies of this site, Learn more about Stack Overflow the company, Learn more about hiring developers or posting ads with us. If I didn't work last year, where do i get a W-2 tax form? So I don't think they even bother or give a lot of value to such a metric. How to understand "cupping backsides is taken as seriously as cooking books"? Business and Occupation Tax A Business and Occupation Tax is imposed on any persons (s) engaging or continuing with the state in any public service or utility business, except railroad, railroad car, â¦ For annual filing place year only. I can think of a lot of different words I could use to describe my occupation. Certified Public Accountant (CPA) Chaplain (Prison, Military, Hospital) If an out-of-state business or practitioner provides proof it has paid to another state occupation taxes on its Georgia business activities, the business or practitioner will be exempt from occupation tax â¦ It is purely informational, as wage levels are also compiled for demographics from tax returns, similar to population data pulled from a census. Get a human when calling the IRS hotline 800-829-1040 with a question about your taxes? can we deduct loan balances from terminal leave? At the bottom of IRS Form 1040 and its relatives, there is a field for "Occupation". In addition to the biennial occupation tax â¦ Section I - Exemptions If you claim exemption from the occupational tax â¦ How is the occupation tax paid? Are there any requirements or guidelines for how I should decide what to put? It has no effect on how you are taxed, but it does have some impact upon how your return may be reviewed and selected for audit. In the early 1980s, the SOI Division announced the impending arrival of tax data by occupation â¦ It will have some impact upon the way an auditor evaluates your â¦ To rectify this, we have endeavored to create such a list. Get your answers by asking now. What does this sideways triangular marking mean? How does the IRS use this information, if at all? Calculations with Around produce larger than expected uncertainties, Clustering points based on a distance matrix, How to set a different background color for each node editor. What is the business and occupation (B&O) tax? If you cannot find an appropriate specific occupation code, enter an accurate description of the taxpayerâs occupation as you understand it and use the âOccupation â¦ How do I pay the B&O tax? Denver occupational privilege tax. If there is a change in tax, you must file an amended return . What is the Occupation Assessment, Flat Occupation Tax? When you prepare your Taxes on eFile.com the eFile Tax â¦ Admitted to US Tax Court, Income Tax, IRS representation, Fiduciary income tax returns, Estate and Gift tax returnsâ¦ Do I have to file taxes for my Robinhood account? Making statements based on opinion; back them up with references or personal experience. Meeting rooms, display rooms, sample rooms, offices, and private dining rooms 3. To learn more, see our tips on writing great answers. Chicago Home Rule Municipal Soft Drink Retailers' Occupation Tax. Former financial auditor and controller. For more information about occupational privilege tax in Aurora, visit the city of Aurora website. What address to specify when mailing Form 1040 via FedEx. Still have questions? Enter what best â¦ Business & Occupation Tax Return (Ordinance No. There are two amounts of occupational tax â¦ You were a college student in 2015. Good Luck starts with a strategy and a plan. Should I just put unemployed? A MATC is completed when Annieâs business tax return â¦ (list years) Tax years and expiration date(s) of federal waivers: Report changes to federal income tax within 180 days of final determination. Does filing taxes take away from my school aid? 10/09) 2009 Please correct your name and address if shown incorrectly. The business and occupation tax (often abbreviated as B&O tax or B/O tax) is a type of tax levied by the U.S. states of Washington, West Virginia, and, as of 2010, Ohio, and by municipal governments in West Virginia and Kentucky.. 08-867) Please type or print. Page 2 of 2 3) Tax Due (line 2 times .001): $ 4) Penalty (see penalty schedule above): $ 5) Total Tax Due (Lines 3 + Line 4): $ Returns â¦ The business pays the occupation tax â¦ Domestic and Foreign Business Corporations, Professional Corporations and Nebraska Benefit Corporations biennial occupation tax reports are due in the even numbered years by March 1, delinquent April 15. occupation tax to City Y (assuming City Y imposes an occupation tax). The IRS does not actually provide any instructions for what to enter as your occupation on your federal tax return (this appears at the bottom of the return to the right of the signature lines). Can vice president/security advisor or secretary of state be chosen from the opposite party? IRS Free File Fillable forms — “Done with this form” button grayed out for 1040, Details behind Geographic Jurisdictions for IRS Form 2555. All corporations are granted an automatic seven-month extension to file Form M30, Occupation Tax Return.. You are not required to submit a form to receive this extension. all the available deductions and tax credits. Receipts from permanent guests â those who occupy, or have the right to occupy, a room or rooms for at least 30 consecutive days See all Additional Local Taxes & Fees At the bottom of IRS Form 1040 and its relatives, there is a field for "Occupation". So yes, I'm joining the non-authoritative "doesn't matter" crowd. How do you think about the answers? Occupation taxes are assessed on all employed residents that hold an occupation. County Motor Fuel Tax. Either 'student' if you were a full time student,, or what you did before you lost your job. The IRS does not actually provide any instructions for what to enter as your occupation on your federal tax return (this appears at the bottom of the return to the right of the signature lines). What happens to Donald Trump if he refuses to turn over his financial records? If you've received a letter from us about the work-related expenses you've claimed in your tax return, it's best to follow the information outlined in the letter to correct any claims or information. ", Why do we use '$' sign in getRecord wired function, Bivariate legend plugin throws NameError exception. You should consult the instructions for each form for any related forms necessary to file a complete tax returnâ¦