Instructions For Form 1040-Ss - U.s. Self-Employment Tax Return (Including The Additional Child Tax Credit For Bona Fide Residents Of Puerto Rico) - Internal Revenue Service - 2006 Page 8
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8Using Both Optional Methods
subject to the Paperwork Reduction Act
States to permit the Comptroller General
unless the form displays a valid OMB
to review the Internal Revenue Service.
If you can use both methods, you can
control number. Books or records relating
We may disclose your tax information to
report less than your total actual net
to a form or its instructions must be
Committees of Congress; federal, state,
earnings from farm and nonfarm
retained as long as their contents may
and local child support agencies; and to
self-employment, but you cannot report
become material in the administration of
other federal agencies for the purposes of
less than your actual net earnings from
any Internal Revenue law.
determining entitlement for benefits or the
nonfarm self-employment alone.
eligibility for and the repayment of loans.
We ask for tax return information to
If you use both methods to figure net
We may also disclose this information to
carry out the tax laws of the United
earnings from self-employment, you
other countries under a tax treaty, or to
States. We need it to figure and collect
cannot report more than $1,600 of net
federal and state agencies to enforce
the right amount of tax.
earnings from self-employment.
federal nontax criminal laws, or to federal
If you do not file a return, do not
law enforcement and intelligence
Disclosure, Privacy Act, and
provide the information we ask for, or
agencies to combat terrorism.
Paperwork Reduction Act Notice. The
provide fraudulent information, you may
Keep this notice with your records. It
IRS Restructuring and Reform Act of
be charged penalties and be subject to
may help you if we ask you for other
1998, the Privacy Act of 1974, and
criminal prosecution. We may also have
information. If you have questions about
Paperwork Reduction Act of 1980 require
to disallow any deductions shown on the
the rules for filing and giving information,
that when we ask you for information we
tax return. This could make the tax higher
call or visit any IRS office.
must first tell you our legal right to ask for
or delay any refund, and the calculation of
the information, why we are asking for it,
your social security benefits may be
The time needed to complete and file
and how it will be used. We must also tell
affected. Interest may also be charged.
this form will vary depending on individual
you what could happen if we do not
circumstances. The estimated average
Generally, tax returns and return
receive it and whether your response is
time is:
information are confidential, as stated in
voluntary, required to obtain a benefit, or
section 6103. However, section 6103
mandatory under the law.
Recordkeeping . . . . . . . .
5 hr., 34 min.
allows or requires the IRS to disclose or
Learning about the law or
This notice applies to all papers you
give the information shown on your tax
the form . . . . . . . . . . . . .
49 min.
file with us, including this tax return. It
return to others as described in the Code.
Preparing the form . . . . . .
3 hr., 43 min.
also applies to any questions we need to
For example, we may disclose your tax
Copying, assembling, and
ask you so we can complete, correct, or
information to the SSA for use in
sending the form to the IRS
1 hr., 16 min.
process your return; figure your tax; and
calculating your social security benefits;
collect tax, interest, or penalties.
to the Department of Justice, to enforce
If you have comments concerning the
the tax laws, both civil and criminal; and
Our legal right to ask for information is
accuracy of these time estimates or
to cities, states, the District of Columbia,
sections 6001, 6011, and 7651 and their
suggestions for making this form simpler,
U.S. commonwealths or possessions, and
regulations. They say that you must file a
we would be happy to hear from you. You
certain foreign governments to carry out
return or statement with the IRS and pay
can write to the Internal Revenue Service,
their tax laws.
to the United States Treasury any tax for
Tax Products Coordinating Committee,
which you are liable. Your response is
SE:W:CAR:MP:T:T:SP, 1111 Constitution
We may disclose your tax information
mandatory under these sections. Section
Ave. NW, IR-6406, Washington, DC
to other persons as necessary to obtain
6109 requires that you provide your SSN
20224. Do not send the form to this
information which we cannot get in any
on what you file. This is so we know who
address. Instead, see Where To File on
other way in order to determine the
you are, and can process your return and
page 1.
amount of or to collect the tax you owe.
other papers. You must fill in all parts of
We may disclose your tax information to
the tax form that apply to you.
the Comptroller General of the United
You are not required to provide the
information requested on a form that is
-8-
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