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re: Babysitter (Niece) received 5071c letter. Never Filed A Return
Posted on 6/17/22 at 4:01 pm to jorconalx
Posted on 6/17/22 at 4:01 pm to jorconalx
Although it sounds dickish, this wasn’t intentional. Her Mom (my sister) knew I was doing this. Guess neither of us consider it as self employment and thought it’d fall under the minimum income limits on filing. Having said that what is the best course of action? I assume me filing an amendment would raise more red flags than there already are? Does she need to file a return? What are the penalties for filing late?
1
Posted on 6/17/22 at 4:33 pm to GAFF
Yep, she needs to file. While she will not owe any income tax, she will owe self employment tax (social security and medicare tax) on the $2,500. It will cost her about $375 in tax plus penalty and interest. The late filing penalty caps at 25%, but there is no cap on the late payment penalty and interest. All in all, penalty and interest may cost another $125 or so, depending upon which year it was she didn't file.
By the way, you really should have filed a W-2 and paid her social security and medicare taxes for her.
By the way, you really should have filed a W-2 and paid her social security and medicare taxes for her.
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