if so does the employer give you a form or how do you go about doing this?
2007-01-01 08:58:04 · 18 answers · asked by grady c 1 in Business & Finance ➔ Taxes ➔ United States
under tha table means no taxes were payed in, so how would you get something back from zero?
2007-01-01 09:00:06 · answer #1 · answered by Anonymous · 3⤊ 0⤋
If you get a 1099 from your employer showing your earnings, the employer is saying you were an independent contractor, and you'll owe a significant amount of tax. The IRS will have received a copy of the info on the 1099.
If you are truly getting paid under the table, that means your employer isn't taking anything out or reporting your earnings. If this happens, the employer is breaking the law, and if you don't report the income, and pay the taxes, then you are also breaking the law. If you do report the income, you stay legal, but won't get a refund, in fact, you'll owe unless you're eligible for the Earned Income Credit, in which case you might get something back, but the IRS will probably look closely at your return.
2007-01-01 17:35:50 · answer #2 · answered by Judy 7 · 1⤊ 1⤋
No. If you get paid under the table you will not have had any tax deducted.
In fact you will almost certainly owe a lot of money, because you are still required to file, even if your employer does not withhold tax when he/she should have done. You will also be responsible for the employer's share of FICA taxes.
I hope your pay rate is sufficiently high to cover all the taxes that have not been paid over on your behalf.
2007-01-01 17:02:20 · answer #3 · answered by skip 6 · 1⤊ 0⤋
Being paid in cash is not illegal. If you are paid in cash, it is taxable income. By filing your taxes, you may in fact get a refund even though no income taxes have been taken out of your income because of credits such as the Earned Income Credit.
If an employer is paying you cash, it is likely that no income documents will be issued to you. However, if you receive a W2 or a 1099 be sure to use it in doing your return.
It is possible to file a return when only cash payments have been made and there is no W2 or 1099 issued to you. Keep records of cash payments. Also keep records of your expenses, such as equipment, supplies and mileage. That way an accurate return can be prepared.
By filing you will establish credits toward Social Security which can be very important to you and your family.
2007-01-01 17:11:26 · answer #4 · answered by ninasgramma 7 · 1⤊ 1⤋
Only if you report the money that you earned. That is how the IRS knows who gets paid and who doens't. You have to come forward and be honest them. Any income earned over 400 that is not a hobby income should be reported. You would file a Sch. C and put this on as a Business income. If you had any expenses and receipts for things you bought in acquiring this money, then that is tax deductible and you can count off this amount off the gross amount. Record keeping from the beginning would be ideal. You would also be required to pay self employment taxes on this money earned. Is the IRS going to track you down, prob. not. But they are not stupid either. Claim it and be smart.
2007-01-01 17:13:16 · answer #5 · answered by perleo 3 · 0⤊ 1⤋
If you are being paid under the table, your employer is not reporting your income, so you would not get a tax refund. In fact, you and your employer could go to jail for tax evasion.
2007-01-01 17:05:41 · answer #6 · answered by lynda_is 6 · 2⤊ 1⤋
Grady, you crack me up. Sure, you can get a refund, but since it was under the table you have to do a couple of extra things. #1 Go to your nearest IRS office and ask to talk to one of their friendly auditors. Explain the situation and give a good estimation of haw much your making. #2 Enjoy the excellent accommodations you'll be staying in for the next 36-48 months for tax evasion. Club Fed Rules. Sandals Drools.
2007-01-01 17:09:25 · answer #7 · answered by Anonymous · 1⤊ 0⤋
You are in trouble. If you haven't been filing taxes quarterly then you have been defrauding the government. You will probably be caught eventually, so go back and file your back taxes and pay what you owe before you get in any deeper. If you haven't paid anything, how could you possibly think that you are entitled to a refund? What you are entitled to is a jail sentence.
2007-01-01 17:01:23 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Yeah man..just go down and say hey man...I get payed under the table..so I don't have to pay taxes. So can I get a refund for the taxes I didn't pay. dee de dee
2007-01-01 17:00:35 · answer #9 · answered by sir_blunted 4 · 3⤊ 0⤋
Only if you Physically go under the table when the boss hands you your check with the proper deductions.
2007-01-01 17:01:19 · answer #10 · answered by pikeruss 4 · 1⤊ 0⤋