 How do you give cash as a gift? |
i gace my step mom 500 as a gift how do i do that so i can claim it in tax. i can i gice that cash as a gift
Additional Details
how can i give her the money as a gift so i can claim it ... |
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 If a credit card has been reported to the IRS for non-payment, can the IRS take my tax-return when I file.? |
I have credit cards that are being reported to the IRS for non-payment. When I file for my taxes and get a return back, can the IRS just take that money and apply it toward my credit card debt.
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 I pay my friend to watch my son and I pay her everyweek, how do I write that off? |
| I pay her in cash, how do we claim that on taxes? do we need documentation? She is just a family friend, she doesn't have a special licencing for it.... |
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 Inherited and sold a house, do I pay income tax on this? |
| A computerless friend of mine lost her parents this year and inherited her parents house throught a pre-signed quit claim deed. She has since sold the house and banked the money. Does she have to ... |
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 Employer of 6 months has not paid tax to IRS, though they withheld it from me. Who is responsible to pay? |
| It's a new company and it was recently discovered they did not pay the IRS the taxes they withheld from all employees paychecks. Unfortunately, we have not been receiving pay stubs (I have 3 or 4... |
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 Full Time - Tax? |
I'm 17, been working at my job for the past 3 years.. 2 and a half as part time, 6 months as full.. and im yet to get taxed.. i get paid monthly..
i think its the best thing to own up ... |
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 Tax Q.. Please reply if you are a tax expert!? |
Let say if i made $ 14K this year. I paid $6000 in tution for my college. I m single with no dependent. Would I be eligible to have some money back (lumpsum).
Also if someone can explain what ... |
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 I Wanted To Know When I Would Be Getting My $600 Tax Reabte? |
| the last two numbers of my social security # are 77 i know its in may but i wanted like a date thanks ... |
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 I got first paycheck and I lost 8.5% of amount to Social Security, Medicare, disable taxes! can i get it back? |
| I got first paycheck and I lost 8.5% of amount to Social Security, Medicare, and State-disability taxes! can i get it back? why is the gov't robbing me of my hard earned money? I am a college ... |
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 How much does the average American pay in taxes? |
| I'm doing a paper for school and does anyone know how much the average American pays in taxes/... |
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 Do i have to pay tax when i buy something out of state? |
| had one company charging me sales tax (ToysRUs) and the item is being shipped of OH. another company isn't charging me tax (Rightstuf) and they're shipping from IA. so what's the ... |
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 Is Social Security Money enough to cover expenses when we retire? |
If that they dont cut benefits and you worked whole your life till retirement. would you get enough money to sustain same level of living after retirement with only SSN money?
Additional D... |
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 Should i use H&R Block for my taxes? |
| Is H&R Block a good firm to do a persons taxes? I hear people say they are a ripoff because they just fill out an electronic form they are reading off a computer, and that i would be better off ... |
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Zebra4 | Is she in trouble because her boss is paying her cash? |
I just found out someone I really care about (in the U.S.) is getting paid cash--no taxes or social security are being taken out. If she turns him in, will she get in trouble? What will happen? |
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Linda H
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I'm not sure if she will be in trouble, but he certainly will be! He must do that along with work comp coverage (I think). What kind of business and how many employees and did she sign papers to that effct? If she filled out the normal tax forms for the job, than he is really in deep doo doo. She needs to find out about that, talk with the IRS would be my next move. |
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src50
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If he is failing to submit payroll taxes, he is in trouble. And she is not getting social security credit for her employment.
If she is not reporting the income, she is in trouble. |
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Gary
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She should find a new job. She is shooting herself in the foot because she is not paying into her Social Security and Medicare accounts. Her boss is not paying his portion into her accounts either. Also, I bet he is not paying his fair share in unemployment (federal and State) taxes or Workmen's Compensation. What would your friend do if she got injured at work? So she turns him in, then is she going to stick around and work through the aftermath? I say work for a honest boss and get a new job. |
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Judy1
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If her employer is not deducting taxes as he is required to and your friend turns him in, the IRS will come down hard on him for that. She is, of course, required to pay the taxes herself if he doesn't withhold them properly, or she's in trouble too. |
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Dep.
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There is no law that says someone can't pay or be paid in cash - and taxes don't necessarily have to be taken out of each pay as long as they're paid by April 15th each year. If you don't pay into Social Security you won't get in trouble, but you won't be able to collect social security benefits either. |
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Burt C
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Yes, she will......even if her boss will get on trouble, the TAX man will come out to get her with stiff fines..
Uncle Sam always wins |
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v b
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Your friend should call the IRS and have a chat about the differences between being an employee and being an independent contractor.
If she is an independent contractor, she reports all of the cash and pays all related taxes herself. Depending on the amounts involved, she may have had estimated tax payments to make. The payer is supposed to give her a 1099-Misc at the end of the year if he pays her more than $600, but even if he doesn't she can still file.
If she is really an employee, is the money really not being taken out? If so, she will have fun at tax time. She would need to file a form SS-8 to have the IRS make a determination as to whether she was an employee and then would attach a new form 8919 to properly calculate the employee's share of fica/mc. Even though the payer didn't withhold anything, all of the money was really from her anyway, so she'll pay it with her taxes.
Please suggest that she get in the habit of depositing the cash into her bank account each time she is paid. She needs to create a paper trail to show that she *did* get paid. |
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mylilbubbers
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Well, then she is not paying taxes either. So yes, she would get in trouoble - and yes, he would too. Tax evasion is not pretty, but maybe only a minor penalty if she informs the IRS first , rather than them finding out on their own. |
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