oh and I also want to know is it possible to get paid in cash or is it illegal??
2007-08-29 10:31:58 · 5 answers · asked by Nana 1 in Business & Finance ➔ Taxes ➔ United States
If you make enough to have taxable income, you have to file a tax return, also if they withhold either federal or state taxes from your paycheck you'd want to file. It is possible to get paid in cash and be legal, but only if they give you a W-2 or 1099 at year end. If not, then it's illegal.
2007-08-29 10:38:03 · answer #1 · answered by Anonymous · 1⤊ 0⤋
If you make over $400 from self-employment, or over $5350 as an employee, you'll need to file a tax return.
Getting paid in cash isn't in itself illegal, but getting paid in cash and not paying taxes on it is. And if you are an employee, your employer is required by law to take out social security and medicare, and pay various employer taxes - if he or she doesn't, they are breaking the law, and if you take the money in cash and don't report it, you are also breaking the law.
2007-08-29 20:29:54 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
If you make over 4k a year you need to file. if not don't bother. yes you can get paid under the table if you work at a small store, or something locally owned and the owners don't follow tax laws.
2007-08-29 17:39:42 · answer #3 · answered by Chicka 3 · 0⤊ 0⤋
In the US, the tax returns are due April 15 for the money you make this year.
2007-08-29 17:44:20 · answer #4 · answered by hottotrot1_usa 7 · 0⤊ 1⤋
If you get a check and they withhold, you should file.
Of course when the FAIRTAX ACT H.R. 25 passes, you will have no income tax.
check it out. www.fairtax.org
Frequently Asked Questions about the FairTax http://www.fairtax.org/fairtax/faqs.htm
2007-08-29 18:18:04 · answer #5 · answered by Anonymous · 0⤊ 3⤋