Independent Contractor Tax Reporting?

[MJamesW]

What is the name of your state? California

This is perhaps more a procedural or process question, rather than strictly a legal question.

I'm working for a few weeks as an independent contractor. I am expecting that I will recieve some sort of 1099 form at the end of the year, and I plan to pay all the taxes associated with being "self employed" for this project.

My question is: In the meantime, is my "employer" reporting my income to the State of California? In other words, can the state easily determine WHEN during 2005 I earned this money?

Thanks!

 

[mickeyharding]

whenever you receive a 1099, a copy has gone to the state and fed. You have to include this with any other independent contractor/self employed income, when you total up your income.

 

[MJamesW]

Thanks for your reponses, but here is my question:

...California

[edited]

I'm working for a few weeks as an independent contractor. I am expecting that I will recieve some sort of 1099 form at the end of the year, and I plan to pay all the taxes associated with being "self employed" for this project.

...In the meantime, is my "employer" reporting my income to the State of California? In other words, can the state easily determine WHEN during 2005 I earned this money?

Thanks again!

 

[MJamesW]

1099s are reported for the yearly taxes only at the end of the year. If your an emplyee it would be quarterly when they report state taxes,UI, feds etc...

So 1099 payments are only (somehow) reported annually, whereas "regular" employee payroll values are reported quarterly, right?

Thanks!

 

[Snipes5]

Your 1099 income is assumed to have been received ratably over the course of the year, and self employment taxes are due accordingly.

If the income is received in a lump sum at the end of the year, the onus is on you to prove the fact by "annualizing" your income on form 2120 on your tax return.

Snipes