| Which business forms to use
|
|
If you are a(n):
|
You may be liable for:
|
Use form:
|
| Sole proprietor
|
Income tax
|
1040
and Schedule C or
C-EZ (file a separate schedule for each business)
|
| Self-employment tax |
1040 and
Schedule SE
|
| Estimated tax |
1040-ES
|
Employment taxes:
- Social Security and Medicare taxes and income tax withholding
- Federal unemployment tax (FUTA)
- Depositing employment taxes
|
-
941
(except for farm employees use
943)
- 940
or 940-EZ
- 8109* (do not deposit electronically)
|
| Excise taxes |
See
Publication 510
|
| Nonpayroll federal income tax and withholding
(backup withholding, withholding on pensions, annuities and gambling winnings) |
945
|
| Reporting wage compensation or non-wage compensation |
W-2
|
| Independent contractor |
Estimated tax |
1040-ES
|
| Self-employment tax |
1040 and
Schedule SE
|
| Partnership |
Annual return of income |
1065
|
| Employment taxes |
Same as sole proprietor
|
| Nonpayroll federal income tax and withholding |
See
Publication 510
|
| Reporting wage compensation or non-wage compensation |
W-2 or
1099-MISC
|
| Corporation or S corporation |
Income tax |
1120or
1120-A (corporation)
1120S (S corporation)
|
| Estimated tax |
1120-W (corporation only) and 8109*
|
| Employment taxes |
same as sole proprietor
|
| Nonpayroll federal income tax and withholding |
same as sole proprietor
|
| Reporting wage compensation or non-wage compensation |
W-2 or
1099-MISC
|
| S corporation shareholder |
Income tax |
1040 and
Schedule E,
Schedule K-1
, and/or various other schedules
|
| Estimated tax |
1040-ES
|