2007-02-02 01:46:30 · 5 answers · asked by productionguru2003 2 in Business & Finance ➔ Taxes ➔ United States
Yes because it was for work done in '06.
2007-02-02 01:49:58 · answer #1 · answered by Anonymous · 0⤊ 2⤋
This just happened to me and I asked on Answers and got differing answers so I called IRS. I was told by them that this is what you have to do: Claim it for 07 because that is when you got paid, doesn't matter when you worked. You need to contact them now about amount you were paid to determine if you have to pay taxes as you are paid from this check or if you can wait until end of year. Depending on how much your check is and ifyou will be paid more will determine if you wait to pay or not. Good luck
2007-02-02 09:59:15 · answer #2 · answered by Mawm 5 · 0⤊ 0⤋
What is the date on the check? If it is dated in 2006, then the company has issued you the income in 2006. The company will be deducting your payment as an expense in 2006, and you will report the income in 2006.
If the check is dated 2007, then you will report the income in 2007.
2007-02-02 09:53:39 · answer #3 · answered by ninasgramma 7 · 0⤊ 0⤋
No, it's income in the year the check was cut. It'll show that way on your 1099, and that's when you pay the taxes.
2007-02-02 19:50:02 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
no, goes by the year they gave you the 1099 on.
2007-02-02 09:51:09 · answer #5 · answered by ralphers 3 · 0⤊ 1⤋