Event: Speaking of Tax Day

Interns, if you're payed like me (as an independent contractor, receiving a 1099-MISC) you cannot use the 1040-EZ, instead you need to pick up yourself the following forms/documents:
1040 (Long one)
Schedule C
Schedule C instructions
Schedule SE
Schedule SE instructions
You can pick up all of those from the irs.gov website

You'll need the information off of the Schedule(s) C & SE to complete the 1040, so do these first. Remember, any vehicle mileage directly for work (such as LEAPS meetings), expenses incurred along the way that weren't reimbursed, and some other things can be counted as deductions against your business expenses and thus we result in reducing the amount of self employment tax you have to pay. (Which is 15.3% as of publication, because in a normal employment situation where your employer takes out taxes and you receive a W-2, only 7 some odd percent is taken out of your part, and the employer has to match the other part, when you are an independent contractor, you have to cover both portions)

You'll be surprised to find out that you owe quite a bit if you haven't sent any money off yet. This brings up another point, if you fall under self employment (Independent Contractor) you are supposed to be filing these taxes quarterly, the first quarter of 2006 happens to line up with the deadline of the 2005 federal income tax filing, so it makes for twice the fun.

On a slightly related note, it is my opinion that Johnson County Government should work on constructing a system similar to that of the one the Honeywell Interns make use of, where Honeywell contracts out the students through Manpower, which makes things simpler for those interns, because they receive a W-2, and have already had part of Soc. Security and Medicare paid as part of the employer's contribution, taking financial and paperwork load off already busy student interns.

*note: Ryan Metcalf is not a tax professional, I'm writing out of experience, all advice at your own risk*