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How to fill out 8962 step by step Form: What You Should Know

Your Form 1040, 1040A, or W-2G, (for self-employed adults) will have the form of your household employment taxes on it. Filing a Schedule H with your return is not the same as filing your Schedule C tax return. Note: You must file Form W-2 to report wages to any Social Security or Medicare wage withholding agent for each household employee, even if you have no employee in the household. To learn more about Form W-2, click here. If you hire a household employee you are also responsible for making the employee's federal income tax return, even if that employee works only part-time. Jan 01, 2024 — You must complete a Schedule H (Form 1040), Household Employment Taxes. You can use these instructions to file a Schedule K-1 to report your withholding and unemployment tax in the year of hiring your household employee. Once you file Form K-1, Form 1099-INT, or W-2G, you have to make any adjustments as described in Instructions for Form 8854 (Form 1040), Employer's Annual Federal Unemployment (UI) Tax Return — Form 1040A, and Additional Information.  Note: You're not required to file Schedule H if you pay no social security or Medicare tax, even if you hire another income-earning taxpayer for the entire year in the year you hire their household employee. To learn more, click here. There are two other exceptions to those rules. If you've hired a household employee to perform work for another household employee that meets the household-employment tax requirements but paid social security or Medicare taxes before that employee is fully covered by you (the “household employer”); Any household employee, including an employee that meets the household-employment tax requirements, but you paid social security or Medicare taxes in the year before they begin to perform work for the household; and Any household employee, even if you paid social security or Medicare taxes at the time your tax return was filed. What if a Household Employer Owe Social Security Taxes?  If a household employer (either by you or the person you hired) owes social security taxes in any calendar year, you are responsible for paying them. What if a Household Employer Moved in 2017? If a household employer moves in 2017, you will not be able to use Schedule H unless you've had no employee in your household for at least 7 years.

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