Which tax forms do I file if I get paid in cash?

Answer 1

I am a former tax preparer.

A 1099 form could be issued to you for payments made in cash (or via non-payroll check) that is given to you for services (work) performed. The recipient of the cash would not be the appropriate person to fill out a 1099 form. The recipient of the cash would be the receiver of the form.

If you are claiming the cash as income, you would most likely list it as income from your own business on a Schedule C form. This is an addition to your regular 1040 form. In some cases you could list it as a line item on page 1 of your 1040 form as just 'other income'. To determine which one I would need to know more details about the work you performed.

While many people do not advocate claiming this as income (ie, 'under the table'). I do recommend claiming it for two reasons: 1) It is supposed to be reported so if you were ever audited it would not pose a problem for you (also you do not know if the payor is claiming that they paid you, which would be a red flag for an audit) and 2) If it is sizeable it could later impact the amount of social security benefits to which you would be entitled.

Feel free to e-mail me if you would like to discuss in more detail outside of this forum.

Answer 2

1099...any time you are not "on the books" meaning you have filled out a W2 with your employer(get a paycheck with deductions, etc.) then you typically file a 1099.

Best thing to do to keep from getting bitten by the tax man..RECEIPTS. Save em. You get paid in cash there's plenty of things you can deduct depending on your line of work. Otherwise, whatever you get paid, put aside about 25% of what you earn (ie $400 a week cash, take $100 and dont touch it OR do it on a monthly basis..either way do it)

Answer 3

The same as everybody else. But why would you want to file? If you are paid in cash, I am assuming that taxes aren't taken out of your pay. This means you will have to pay them. Just take the money and keep your mouth shut

Answer 4

Unless you are a corporation, a resident alien, a resident of D.C., or residing in a foreign country, there is no law that makes you liable for a federal tax.

Caveat: If you have filed a W-4 or previously filed, the government may make a presumption that you have self- declared yourself a filer, and move to force you to file.

I am not a lawyer and this does not constitute legal advise.

Answer 5

You can file IRS Form 1099. Most people avoid the whole thing and don't declare cash income. God bless, ya! You're an honest woman!

Answer 6

Usually a 1099. That's what my husband used to get when he worked for cash and had to pay his own taxes.

Answer 7

none if your getting paid in cash you don't have to file or pay taxes on it...unless your a government employee but then you wouldn't be getting paid in cash.

Answer 8

Most likely a 1099 but you have to be careful with that one, because when Tax time comes around you'll end up owing more.

Answer 9

we need to know if you are getting paid under the table first. and if not, are they taking taxes and soc. sec. out, if they are taking them out, then it's the form you use for your income level

Answer 10

talk to a CPA about this one