File Your Taxes, Step 8: Additional Taxes

Other taxes you may owe include the self-employment tax, additional taxes on unreported tips, additional taxes on the early withdrawal of retirement funds, the advance earned income credit, and household employment taxes. Just like tax credits reward certain activities, additional taxes increase the cost of various activities. The most common additional taxes are for early withdrawal of retirement savings before age 59-1/2 and self-employment taxes for independent contractors and freelancers.