i made some money last year that i din't get a 1099 for because it was made really under the table but i want to slaim it on my taxes do i need to get proof of that income ?
2007-01-19 18:32:58 · 9 answers · asked by skytzo ! 3 in Business & Finance ➔ Taxes ➔ United States
You can claim it on a schedule C
2007-01-20 03:42:43 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
Why? If it was under the table there is no proof you made it. By claiming it now they can nail you for back Social security, unemployment and who knows whatever else. Plus that could flag you for an audit with the IRS. On top of that the person that payed you under the table will be put under the financial microscope and you will be causing him all sorts of problems, too. If you want to pay taxes on your earnings fine, but do it properly and legally and on time. And don't get other people in trouble doing it.
2007-01-19 18:42:25 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Each person is responsible for reporting their income correctly, 1099 or not. You don't file 1099s with your income tax papers. This income is handled differently that regular wages. (You get a W-2 for wages paid to an employee.) You also need to pay social security taxes on it. Get a small tax program and it will take you thru all of it. It will ask you questions, and you answer yes or no. It's pretty simple.
2007-01-19 18:41:34 · answer #3 · answered by towanda 7 · 0⤊ 0⤋
If it was paid "under the table" it was done illegally. The person that paid you didn't pay the state or gov. any tax or insurance for you working for them. It wasn't recorded on their books if you didn't get a 1099.
It also depends on how much you received. Was it more than $600 over the previous year?
You can claim you were an independant contractor and pay the taxes on it if you so desire.
2007-01-19 18:40:12 · answer #4 · answered by Just Mike 2 · 0⤊ 0⤋
You should claim it on your taxes as income from an "undisclosed source".
Just remember, they've convicted many criminals for unpayment of taxes when they could not get them for the other crimes they committed.
You don't need any other proof of it. And if the IRS asks, they can't make you say where you got it from.
2007-01-19 19:01:08 · answer #5 · answered by tallthatsme 4 · 0⤊ 0⤋
As a server, I know there is a slot for unclaimed tips on my 1040EZ and that is where I put my extra income.
2007-01-19 18:41:32 · answer #6 · answered by Phat Kidd 5 · 0⤊ 0⤋
negotiate across the table with the powers that be
2007-01-19 19:32:53 · answer #7 · answered by maynze2000 3 · 0⤊ 0⤋
You want to confess to a crime?!?! Just call the IRS. Maybe you can get a reward for turning yourself in!
2007-01-19 18:42:34 · answer #8 · answered by Wounded duckmate 6 · 1⤊ 1⤋
now why would you do a thing like that?
2007-01-19 18:40:49 · answer #9 · answered by Anonymous · 1⤊ 0⤋