jam
 |
you should get a 1099 from your boss stating what you were paid in 2006. Then, you take that form to your tax preparer and the will to your taxes with that. You have to pay social security tax on it for sure. |
|
inaru816
 |
This does mean you are getting paid under the table-- which is illegal for the employer. It is also illegal for you if you do nothing-- if it is ever discovered you will owe penalties,etc. (See what just happened to Wesley Snipes?)
You can rectify the situation by filing taxes yourself and reporting the income. This is helpful to you if you ever want to collect disability or social security from the gov't. You would need to pay taxes to IRS and to Social Security in order to make this right. Go to website below and do a search. |
|
M O
|
Why did you accept this set up? IF he doesnt give you a 1099 form (meaning you are being paid as a contractor), you are pretty much in an illegal position.
I would immediatley request a 1099 from your boss. He shouldnt have a big problem with it, because now he can report the money as a legit business expense. |
|
☆BTriX☆
 |
That means you are getting paid under the table, which is illegal. |
|
beygrl
|
You are probably not on payroll, if your being paid personal check. Talk to him first and see what he is doing, because if you claim money and place of work, and he is not showing you on his payroll roster he can get audited by the IRS. Also, if he pays personal check, you probably dont have workers comp and insurance as an employee. But again, talk to your boss first. |
|
pamomof4
|
If he is paying you by personal check and doesn't deduct anything then you may be paid "off the books". He isn't paying into things either...is this legal?? Your employer has to match certain things (FICA-Social Security) and has to provide you with things like disability ins. He also has to pay for unemployment. By paying you by personal check he is getting away with not paying or providing these things. Unless you were hired as a private contractor, freelance worker..etc, then he would have to give you a 1099 form which states how much he has paid you and you are then responsible for your own taxes. Any accountant knows what to do with a 1099 form...just bring it to them and they will fill out the tax forms you need to file. |
|
Judy1
 |
If nothing is getting deducted, you might or might not get a 1099 for what you made. You're not likely to get a W-2.
If you get a 1099, you will use that to file your return. You'd fill out a schedule C or C-EZ, and a schedule SE. You'll owe regular income tax, plus 15.3% self-employment tax for social security and medicare. You'll also probably owe a penalty for not filing quarterly estimated taxes, but it's not likely to be much.
If you don't get a 1099, you need to file the same as if you did. Some people here have told you that you just wouldn't have to pay taxes on it. They're telling you to break the law. You might get away with it, you might not. But if they told you to go hold up a gas station, would you do it? I don't think so, even if you thought that you MIGHT get away with it.
Depending on what kind of job you have, the way your boss is paying you might or might not be legal. If you don't get a 1099 from him, it's illegal - for him. You don't want to get involved and end up in trouble right along with him, if he gets caught. It would be called working "off the books" or "under the table" and can cause you a lot of trouble down the line. If you don't get a 1099, I'd ask him about it - once - then go look for another job.
Good luck. |
|
vegas_iwish
|
He still must give you a 1099. From said 1099 you would fill out schedule C. IRS will know nothing about it but taking that line is a risk. |
|
Terri A
|
You should not be filing taxes. That's why getting paid that way is refered to as getting paid "under the table". Also, it's illegal - though not exactly rare. You won't be getting any W-2's because the IRS didn't know that you made that money and you didn't pay any taxes on it. Basically, if you call the IRS to find out how much you "owe", your boss will, no doubt, get audited. |
|
Scott K
|
you will have to pay back all taxes for the year if you file, figure about 15-20% of your income based on what bracket you fall into, there isnt a penalty to do this as you would be filing as if you were a 10-99 employee but lets say you made 40k this year you would owe back 5,000-8,000 in income taxes |
|
twostories
|
You need to file a 1099, make copies of your pay checks,and keep track of your INCOME. When you file this 1099, your boss is going to have to explain why he hasn't given you the proper paperwork himself! The IRS see payment of any kind as INCOME, so to cover yourself, file your taxes based on what you know you earned and pay your taxes from the proper table in your tax book. |
|
quovaziay
 |
If you make less than $20,000 a year there is no need to file taxes because you are in the lowest bracket. If you make more than that, you have to file and you will owe the IRS at least 20% of your total income, if not more. If this has happened for more than just last year, you will owe back taxes. First check if your boss has an 1099 form filed for you. If so, it's up to you to file. If you're a student then you're ok to file and not owe.
Personally, I wouldn't worry about it. It will be on your boss if caught. |
|
ndngrlz
|
Don't worry about filing any earnings then. congratulations on a sweet ( and illegal) job. This is called being "paid under the table" and is not reportable. Your boss has to worry about breaking the law...you don't. Cash is always welcome!! |
|
fliege52000
|
Call the IRS. |
|
stp1963iw
|
I your boss dosent W-2 you, I wouldnt even file. If u had nothing deducted u will not get a rebate. |
|
Spinich
|
Don't file, consider yourself lucky. None of your earnings are being reported to the IRS if your boss is paying you under the table. |
|
bubbles
|
so you have nothing to file you are getting paid under the table |
|
Angelo A
|
You turn yourself in to the IRS and they destroy your family and take away everything you own and will ever own. |
|
TNL
|
you won't have any taxes |
|
jbradford
|
if i sell crop for cash can i count that towards my income taxes or would it make my return less |
|
brittany poynter
|
How can I claim my daughter as a dependant if i have been paid cash all year,from different jobs?I dopnt have any records of it
|
|
patzy
|
I'm on SSDI and was taxed on a small annunity and was given a 1099 for the taxes I paid. do I use a 1040 form and put the SSDI as income ( less than $20K a year)? |
|
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
