 $$$$$$$$$$? |
| I've heard that if a minor makes over one thousand dollars in a year, they can get that money back from W2's. Is this true? if not, what is.... |
|
 Do I have to file taxes? |
I'm 21, full-time college student and work full time at an NGO (I have to pay my taxes myself, they don't take it out of my check).
I make 10$ an hour and I started in January so by A... |
|
 IRS..... Refund check stolen and cashed? |
| My husband and I just found out that our refund check for $1800.00 was stole from our mail box(we think) and cashed. After a 6 week investigation it resulted in finding out it was cashed 2 weeks ago. ... |
|
 Should I bother with tax deductions? What are they? |
| First, I need to explain that I've already heard the definition of a tax deduction- "A reduction of total income before the amount of income tax payable is calculated." (So please don&#... |
|
 Fraud. Filing a tax return on a child they don't have.? |
| I have a friend who works, but gets food stamps through Welfare. She has a 3 year old child and has done taxes on him every year, except this year she went to do her taxes and the return got rejected ... |
|
 If I file an tax return, but my parents still claim me as a dependent, do I get an economoic stimulus check? |
| I am a college student and I file my own state and federal taxes, but my parents claim me as a dependent on their taxes. Do I still qualify for the $600 economic stimulus check? Thanks.... |
|
 How can the Salvation Army Thrift Stores charge sales tax when they don't pay taxes? |
| I understand that the money helps they poor and less fortunate, I guess I just want to know / understand from a legal point of veiw. It was my understanding that stores charge sales tax to help ... |
|
 Can I claim my daughter if she graduated in May 07 but was married before 12/07? |
| I paid her spring tuition, but she got married before June 30th, can I still claim her for 07... |
|
 I have recently come into 20k and have 37k mortgage - do i pay this to reduce the payments? |
| I work 30 hrs and have 2 children, my mortgage is £415 per month with 9 yrs left, I claim a widows/carers allowance hence the 20k inheritance, and get £20 pm Tax credits, the problem i am facing ... |
|
 Can my husband claim me as a dependent? |
My husband is filing his taxes as married filing jointly but I have only had MAYBE $500 in income. Can he claim me as a dependent along with our 3 kids?
Additional Details
Ugh, why so ... |
|
| How to find an employer's tax ID number? |
| I called my past employer's payroll dpt and the lady wouldn't give me the ID number. She said its against policy.I know could wait for my w-2, but Is there any other way to possibly get ... |
|
 Should my husband and I file our tax returns together or seperate? |
Should my husband and I file our tax returns together or seperate????
My husband and I have been off and alot last year. We filed seperate tax returns last year (I claimed our daughter). Anyhow, ... |
|
 Why do people get excited over large tax refunds? |
| Do people not realize when you get a large tax refund, that means you've been lending money to the government interest free and you could have had that money as an increase to your monthly ... |
|
 I want to report only two of my Three W-2 forms this year, what are the penaltes for that? |
| I held three jobs last year and on one of my W-2 forms I owe money to the IRS, but i was thinking I can just file the two that I dont owe money on until I can afford to pay.... |
|
|  |
Legend | Is undocumented income taxed, like tips at restaurant ? |
I know a guy who is a waiter in a restaurant. He gets around $1000 as wage, by check. But he also makes $150- $200 per week extra as
tips given by customers. As these are undocumented income and it varies highly, is there any problem if he don't show it on tax papers? |
 |
 
Soror Kate ART VT
 |
Quick 'tip' for all you waiters and waitresses out there: Don't forget that it can sometimes benefit you to claim all of your tips, depending on your other income and how much you make. Yes, legally, you must claim it all, but we all know that you don't necessarily. Here's where it can benefit you: If you are working someplace where you make very little, and qualify for the Earned Income Credit, it is possible that the more you earn (wages and tips), the more EIC you'll get in your refund. You could also qualify for the Additional Child Tax Credit (assuming you have children) which is based on income, and could also boost your refund. You might also want to report higher income so that you can sock more money into Social Security (ick) or an IRA (yay!) so that you have a better retirement.
However, to reiterate the previous responses, it is definitely tax fraud NOT to report any and all income. Believe it or not, the IRS wants to know if you barter with someone, if you sell some crafts to friends and neighbors, and if you win $5 on a scratch-off lotto ticket. While much of this does indeed go unreported, it is possible to get caught and you can land yourself in some big trouble if you do. |
|
kohalakoast
|
Is it subject to income tax??? YES Even if the IRS would otherwise never find it?? Yes
Does it always get reported and taxed?? No
Is there a problem if he does not report it? No not if he has no conscience and does not mind breaking the law by not paying the taxes he owes. |
|
parsonsel
|
As previous said, it should be declared but if he doesn't mind not paying what he owes, more power to him.
He'd just better remember that the tax man can always come knocking and demand back taxes as well as penalties and interest. They might catch on because you have to declare your job on your tax forms (at least I have to) and they might get very suspicious that he never declares any tips. |
|
goicuon
|
Yes, the income is taxable, and yes, if he is not reporting this income and he gets caught, he'll have some problems. |
|
byhisello99
 |
Tax princess has a great response. I would add that if any of the tips are included in credit card payments, the IRS has access to information about what percentage of the meal cost is typically added as a tip. It is not rocket science to estimate how much the waiter's delivered meal costs are, and a simple calculation to come up with the amount that the tips ought to be. If the waiter does not report an amount somewhere around what it should be, the waiter may be audited. The employer may also be audited if there is suspicion that the employer is abetting tax fraud.
Cheating on your taxes, even when you are "sure" you can't get caught, is not just illegal. It's industrial strength stupidity. |
|
regerugged
 |
Tips are taxable income. Probably no waiter or waitress honestly reports all of his or her tips. The IRS does scan returns and looks for tips being declared for certain job descriptions.
If you are a barber, hair stylist, waiter and do not show tips income, there is a 50-50 chance the return will be audited. |
|
Loremaster21
 |
yes, the undocumented income does get taxed. tips at a restaraunt do not have to be reported if they are under $20. however, anything more than that, the whole amount get's reported to the IRS and is taxed. if he does not show the tips on his income tax, he can be arrested and presecuted for tax evasion and fraud, both of which are federal offences (Felonies) |
|
STEVEN F
|
tax princess and the answer after hers are both great.
parsonsel said you have to declare your occupation. There is a place for this information on next to your signature, but I don't believe it is required. I always leave it blank and they haven't complained yet. |
|
candi o
|
funk that i didnt report half my tips. i gotta live to man. but how does that guy make that much in sallary but not so much in tips. i always made twice my sallary in tips. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
9 | 11 minutes(s) ago
| | | |
9 | 44 minutes(s) ago
| | | |
9 | 3 hour(s) ago
| | | |
9 | 6 hour(s) ago
| | | |
9 | 9 hour(s) ago
| | | |
9 | 1 day(s) ago
| | | |
9 | 6 day(s) ago
| | | |
9 | 2 week(s) ago
| | | |
9 | 2 month(s) ago
| | | |
9 | 3 month(s) ago
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
