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Posted by Carolyn Bodley on 9/16/22 2:16pm
If you are working as sole proprietor, you file quarterly taxes. By setting up Wage Withholding with Dept. of Revenue, you are telling them you are an EMPLOYER and have EMPLOYEES. Instead of filing a W-2, you should have filed 1099’s if you are performing loan signings from SSs, title, etc. You are only allowed to claim $5 or $10 per notary seal, not the entire price paid for the signing. Dept. Of Reveneu shows that you paid $0 in withholding taxes, but you apparently claimed $500 sum or $600 some that you want refunded in withholding. We’re you to have actually paid into withholding and now claiming for a refund, it coukd be construed as double dipping. As for the loan/gift amount, it would be your parents claiming this as you did not give them a loan or gift. I would call the Dept. Of Revenue and request an in person meeting/consultation to get this resolved ASSO to avoid further interest and penalty |
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