Federal Individual 2010: Certain Self-Employed Customers with Multiple Business Activities May Need to Amend to Correct Self-Employment Tax

You may be affected if ALL of the following are true:

• You filed your 2010 federal tax return prior to April 28, 2011 AND,
• Your federal return included an S corporation Schedule K-1 OR a Schedule C with statutory employee box checked or a Schedule C with approved 4361 application AND,
• You had a self-employed, health-insurance deduction related to one of the above activities AND,
• You had self-employment income from ANOTHER activity such as a second Schedule C, Schedule F or a Partnership K-1

If you are affected, both the self-employment tax (Form 1040, line 56) and the one-half self-employment tax deduction (Form 1040, line 27) may be understated on your federal tax return.  

Let us do the work for you. We highly recommend this.

1. Please download and print this Authorization Form.
2. Complete the form and fax it to us at the number printed at the top of the form.
3. A TurboTax representative will contact you (within 6 days) when your corrected return is ready to be securely emailed back to you.
4. You can print, sign and mail the corrected return(s) to the IRS and your state.

Or you can make the corrections yourself. However, the amend process can be complex.

• To do it yourself, please follow these step-by-step instructions for:
  
  • Amending your federal return and
  • Amending your state return.
• After you make the changes to your tax return, you will need to mail a copy of
  • Your federal return to the IRS and
  • Your state return to your state tax authority, if your state return is affected
• Your printed returns will include directions on how and where to mail them.
• If you need assistance, call us at the phone number in the TurboTax email.