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Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 2308
Experience:  Certified Public Accountant
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I have a question regarding a back up taxes. My boyfriend

Customer Question

Hello, I have a question regarding a back up taxes. My boyfriend needs to pay taxes for 2015, it was cash, and we didn't have a chance to pay on time, is it possible to do it now, I know there is a fees. if you could tell me how much app it will be with $10000.
JA: It's only $5.
Customer: $5 for what?
JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?
Customer: it was catering, so mostly it was cash. but that's all. no dependents, he was single by that time,
Submitted: 1 year ago.
Category: Finance
Expert:  Mark Taylor replied 1 year ago.

Hi my name is Mark. I will be happy to help you with your questions.

Expert:  Mark Taylor replied 1 year ago.

Your boyfriend is filing his taxes for 2015?

Customer: replied 1 year ago.
I think it called back up taxes. he did not show it when he filled in April, so we need to do it now. if it's possible
Expert:  Mark Taylor replied 1 year ago.

So this is income he did not report on the return in April? Did he receive a 1099? A notice from the IRS?

Expert:  Mark Taylor replied 1 year ago.

There is a backup withholding? Can you please give me a little more of the background information and I will be better able to help you.

Customer: replied 1 year ago.
no, since it was cash, he just didn't show that amount.
Customer: replied 1 year ago.
I need to ask him. all details, I will contact you.
thank you.
Expert:  Mark Taylor replied 1 year ago.

So it was just catering jobs that he had? He would need to amend the tax return and report the income on Schedule C. He would be able to deduct any expenses associated with this income. The net income from this would be subject to both self employment taxes and income taxes. Do you know how much income your boyfriend reported on the original return?