Have Tax Questions? Ask a Tax Expert for Answers ASAP
The tax preparer filed a Sch. C, Profit and Loss From a Sole Proprietorship, for your 2007 tax return. When you filed a Sch. C, Social Security Tax (12.5% rate) is charged on net profit up to $97,500. You should have the tax preparer file an amended tax return to correct his error for you. Have the preparer change the income from a Sch. C to other income. You should receive a refund for the Social Security Tax paid.
If my answer is benefit to you please "Accept" and thank you for using just answer.