 Can i get away with no claiming this income? |
i did some paperwork for my brother in law for his trucking company for a few months this year. he either paid me by check..200.00 or cash when he wrote the check it never said what it was for.
... |
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 Am I liable for my dad’s failure to pay his taxes? |
| My dad sold stock, given to me by a family member, when I was 14. He was placed in charge, per my relative’s wishes, and sold the stock, but he did not file the taxes on the capital gains. I’m ... |
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 Filing status married vs married filing separate? |
| my husband makes 3x more than i do. is there any benefit to filing "married filing separate" returns. we have 4 children that are MINE from a previous marriage and i am desperate for ... |
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 Can anyone answer this question??!!!!? |
| What about the interest (borrowing) cost specific to a development site which is also qualifying business asset. Can this cost be capitalised during the active development period? In simple words ... |
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 Guys I'm stressing out can you recommend a cheap way to file taxes.? |
| Hi, I would usually have a friend of my boyfriends mom file my taxes for cheap but I dont want to wait I have never done my taxes with anyone else I'm stressing out I have 3 short simple forms ... |
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 Please help, we have serios IRS problems.? |
| Ok, I will not bother to go into the how this happened, but the IRS is now garnishing my wife's wages to the point to where we will not be able to pay the rent on our house. Whats worse is that ... |
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 Can someone help me out to fill this form? 10 pts!? |
http://www.irs.gov/pub/i
translate it to english? i don't understand it.
in Part 1:
1). Individual income tax returns (Forms 1040, 1040A, 1040EZ, 1040NR, ... |
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 Can boyfriend file me as a dependant? |
| Im wanting to go back to college, but you have to fill out your parent's tax stuff on the FAFSA. Thus making me ineligible for grants, even though they live in another state and have for over a ... |
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| My mom received $9000.00 inheritance from her mother.The money was received from an bank account her sister and husband have managed for my grandmother.My mom is considered at poverty level.She is ... |
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 Do Food Stamps or WIC Negatively effect you tax return/refund? |
| Since I have pretty much quit working my husband and I qualify for food stamps, and WIC (just had a baby) and I we cant decide if we should go get them because we dont want our tax return to be ... |
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 Claiming unborn child on taxes? |
| A lady at work said I can claim my unborn baby on my taxes, is this true? It didn't sound right to me...... |
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trace27 | Do you have to file your 1099's on taxes? |
Had my taxes done at H&R Block, and they said I would get a bigger return if I did'nt use my 1099's. |
 |
 
stevers1
|
Yes, it is income and has to be filed. That is why the 1099 form is labeled as income. |
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Jessica H
 |
You have to use your 1099's on your taxes that's earned income. |
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P-3 Hoser
|
1099's are taxable income and must be claimed. |
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swatthefly
 |
the 1099's do need to be filed. if you file without it, the irs may summon you to court to correct the difference. the irs does get a copy of that 1099 too, so they will know if you dont file it. |
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SuzeY
|
And this is why I never recommend H & R Block to anyone. I'm sure they probably have some good preparers at some locations, but you obviously didn't find the rare exception. Not reporting income is illegal, to start with. Also, the IRS has matching capabilities for 1099's, 1098s, W-2s and K-1s, meaning that the payor has given that information to the IRS and the government will be looking for it on your return. If it isn't on there, you'll get socked with the original tax due, plus penalties and interest (normally the notice comes several months after the return is filed, but the interest meter starts running at 4/17/07). If the 1099s represent a large portion of your income, you also could be busted for tax fraud.
Find yourself a real tax preparation place before you end up in a big financial mess. |
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amberellian
|
Short answer: yes. The fact that you have a 1099 means that the entity that gave you that money also reported it to the IRS.
We are required by law to report all income, whether it was reported or not. (I'm not saying we all do, mind you, but that's the law.)
While the person you talked to at H&R Block is probably correct, they should not be telling you to commit tax evasion. The big question is will that extra money you'd get be worth it if you're audited and fined? |
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cleo_woman
 |
The reason they may have said that is because with a 1099 you have to pay a self employment tax, and if you didnt do any deductions it may end up costing you more. But if the ammount you made is less than 600. I dont believe you have to file it. |
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bostonianinmo
 |
Immediately report the idiot at Block that told you that to the manager AND the IRS! If it's the manager, report it to Block's corporate office and the IRS. Any alleged "tax pro" who would tell you that needs to be flipping burgers at Mickey-Ds, NOT preparing taxes and advising tax payers. He or she is a MORON.
As you may guess, you MUST report all income. If you don't report 1099 income, the IRS will be contacting you to find out why you didn't report the income on your tax return. You'll be billed for the tax due, along with penalties and interest for underreporting of income and underpayment of taxes. |
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jopetho
 |
H&R Block is loosing their face in the public by having these kind of guys working for them as TAX PROFESSIONALS. Anyway they get what they pay for ( $7-$9/hr ) how can they get the best students.
You should report all your income, other wise YOU will be in trouble as YOU are responsible for your taxes not the H&R TAX PROFESSIONAL (!!!) who gave you this advice...
I always support and suggest everyone to take their income tax course, as it is very good. After that you will be prepared to prepare you own taxes and need not depends their TAX PROFESSIONALS!! |
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rita eldridge
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havent got 1099 from unemployment yet |
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