Indiana Schedule H: Your Codebtors (individuals)

State:
Indiana
Control #:
IN-B-106H
Format:
PDF
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Description

Schedule H: Your Codebtors (individuals)
Indiana Schedule H: Your Codebtors (individuals) is a document that must be filed with the Indiana Department of Revenue when an individual taxpayer is responsible for filing taxes for a business that has more than one owner. This document lists the names and taxpayer identification numbers of all the owners, and is used by the Department of Revenue to collect taxes from them. It includes both active and inactive owners, as well as those owners who are not currently filing taxes. There are two types of Indiana Schedule H: Your Codebtors (individuals): the regular version and the short version. The regular version requires more information, such as the name and address of each owner, as well as their tax identification number. The short version simply requires the name and tax identification number of each owner.

Indiana Schedule H: Your Codebtors (individuals) is a document that must be filed with the Indiana Department of Revenue when an individual taxpayer is responsible for filing taxes for a business that has more than one owner. This document lists the names and taxpayer identification numbers of all the owners, and is used by the Department of Revenue to collect taxes from them. It includes both active and inactive owners, as well as those owners who are not currently filing taxes. There are two types of Indiana Schedule H: Your Codebtors (individuals): the regular version and the short version. The regular version requires more information, such as the name and address of each owner, as well as their tax identification number. The short version simply requires the name and tax identification number of each owner.

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FAQ

You should attach Schedule H to your Form 1040 and enter the total of payroll taxes on Form 1040 Schedule 2: Tax (Part II) line 9. If you made quarterly tax payments via HWS or on your own using Form 1040ES, enter the sum of those payments remitted before January 15, 2022 on Form 1040 Line 26.

If you filed an Indiana resident tax return for the 2020 tax year by Dec. 31, 2021, you were eligible for and should have received both refunds ($125 and $200 ATRs) in 2022 as a direct deposit or a check (either separately or combined) for a total of $325 (or $650 for those filing jointly).

If your taxable income is $2,000 or less, then you're not required to file a tax return with Indiana. If your taxable income is more than $2,000, then you must file a tax return with Indiana.

If you have household employees, you will need an EIN to file Schedule H. If you don't have an EIN, you may apply for one online by going to IRS.gov/EIN. You may also apply for an EIN by faxing or mailing Form SS-4 to the IRS. Don't use your social security number (SSN) in place of an EIN.

The household employment taxes that you may have to account for on Schedule H cover the same three taxes that are withheld from all employment wages: the 12.4 percent Social Security tax, a 2.9 percent Medicare tax and the 6 percent federal unemployment tax, or FUTA.

Request an extension: If you get a federal extension of time to file from the IRS, an extension with Indiana is automatically granted. Note: If you expect to owe state taxes, you still need to file an extension request with Indiana and pay at least 90% of the amount due by April 18 to avoid any penalty.

Indiana has a flat 3.15 percent individual income tax rate. There also are jurisdictions that collect local income taxes. Indiana has a 4.90 percent corporate income tax rate. Indiana has a 7.00 percent state sales tax rate and does not levy any local sales taxes.

Use Schedule H (Form 1040) to report household employment taxes if you paid cash wages to a household employee and the wages were subject to social security, Medicare, or FUTA taxes, or if you withheld federal income tax.

More info

This is an Official Bankruptcy Form. Codebtors are people or entities who are also liable for any debts you may have.Get Schedule H: Your Codebtors from the US Bankruptcy Court website. Save the form on your computer. Instant access to fillable Microsoft Word or PDF forms. Minimize the risk of using outdated forms and eliminate rejected fillings. I'll assist you with your paperwork, which includes Schedule H, where you'll list any debts you have with codebtors. Codebtors are people or entities who are also liable for any debts you may have. You'll list any codebtors—individuals who must pay your debt if you fail to do so—on Schedule H: Your Codebtors. Schedule H: Your Codebtors.

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Indiana Schedule H: Your Codebtors (individuals)