2007-01-29 07:54:09 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
You should report ALL income - if you do not you take a chance of being auditing. If you are auditing and they find you didn't report everything you will have to pay fines plus the taxes due (with interest).
2007-01-29 07:58:03 · answer #1 · answered by kewltazdude 3 · 0⤊ 0⤋
Eventually you'll get a bill from the IRS for the difference. If that comes after the filing deadline, there will be additional penalties and interest due.
2007-01-29 16:11:53 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
If your employer filed your wages as taxable, you'll stand a good chance of getting nailed for tax fraud.
2007-01-29 15:57:29 · answer #3 · answered by wizjp 7 · 0⤊ 0⤋
You should use any misc. income forms the course sent you. otherwise you HAVE to claim it on your income tax. If you get auditted, you could go to jail.
2007-01-29 16:01:42 · answer #4 · answered by Waiting and Wishing 6 · 0⤊ 0⤋