$350 side income, no 1099, no report?

Question

I made $350 on a small gig and haven't received a 1099 from them. Will it be okay to not report it? Or am I playing russian roulette?

Answer 1

You should report it. My ex-husband played that form of Russian roulette and it caused us BOTH a lot of headaches... along with fines and penalties.

Answer 2

I know for a fact that unless you received a 1099 the IRS does not know. My son has employees and contractors that work for him. I have to report all W2 and 1099's that are paid during the year to the IRS and the Social Security Administration. If you are unsure if it was lost in the mail coming to you, call the company and ask if you have a 1099. Most company do not report anything under 600.00. They just put in an expense account for repair, maintenance, other.

Answer 3

USUALLY, and I am not an accountant, but usually if the income is less than $600 then it is not eligible for a 1099. So you wouldn't receive one. As for reporting it...The law requires you to report all of your income....

Answer 4

Nope, it's fully taxable. Russian roulette with one EMPTY chamber. (Unless it's your ONLY income for the year, then you have six empty chambers and don't even need to file.)

Answer 5

you are playing Russian roulette comrade... however the chances of this being picked up by the IRS is small.

Answer 6

Report it if you have other income that requires you to file. If that's your only income you don't have to file.

Answer 7

You SHOULD report it,
You CAN have a momentary lack of memory and nothing will ever come of it.

If you have an attack of conscience, then , perhaps you should report it.

Answer 8

yes