Voting Question: What should I do? Paid in cash. No W2s. No 1099.?

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  • Voting Question: What should I do? Paid in cash. No W2s. No 1099.?


Answer #1 | 18/12 2013 09:47
Y'Know, I hope you get fired over this. Not only did you commit tax evasion by not filing the income and paying the taxes that you owe, you had the gall to list the company on your job application and use them as a reference. Large companies verify employment and when they can't they ask to see proof such as the W-2s/1099-Misc forms. When you can't produce those, they will accept a copy of your tax return. (If I'm a plumber and do work in your home, I wouldn't get a form, but I'm still required to report the income.) Since you can't, they will not hire you, or if they have, they will fire you. Good riddance. "I don't know what to do" You FILE the return. Yes, you get in trouble with the IRS because you now will owe DOUBLE what you would have owed if you had filed and paid on time. And no, you do not suddenly say you were a volunteer on your furture job applications. That is lying too. The only other surprise is that your family friend was never audited by the IRS. When he didn't issue you a W-2 or 1099-Misc, he then had an expense he couldn't deduct. Either he lied on his taxes and listed the money as another kind of expense or he increased his income and paid taxes as if he kept the money for himself. Since people who fail to follow the rules tend to not like paying taxes at all, I suspect he did the former. When he gets audited, you can bet he's going to suddenly want your SSN so he can retroactively issue you a 1099-Misc. Then the IRS will be VERY interested.
Answer #2 | 18/12 2013 13:57
the company wants W-2's from 7 years' employment? I never heard of such a thing obviously at your age you likely never worked in all of those 7 yrs however, this cash income needed to be reported on Sch C and very likely SE as well and you would have paid the self employment tax on that income you need to amend the return this money was earned and get it correct, the 2010 needs to be filed by 4/15/2014 if this was the year you worked as far as complying with the W-2 request present what you have
Answer #3 | 18/12 2013 10:02
Just tell them you have misplaced that w2 from that employer.
Answer #4 | 19/12 2013 01:40
You don't have to issue a 1099 if you earned less than $600. You could tell them you earned less than $600 at that company and therefore don't have a 1099...hey maybe that is the truth. People on here are jumping to conclusions
Answer #5 | 19/12 2013 10:52
You were legally obligated to report the income on your tax return, 1099 or not. YES, this thing will stand in the way. YES, it is too late to say you volunteered when you already said it was employment. They are not stupid. The ONLY possible way to save this is to file a proper tax return for that year to prove you had the income. Even then, new employer will see you just did it (and they'll probably want a transcript, which will take several weeks to get). This new company will not likely wait several weeks. My guess is that this is the end of the line for the dream job, and they will move on to someone else.
Answer #6 | 22/12 2013 07:16
Required by the local taxing authority in your local area for you to contact your local taxing authority and let them register you for this purpose and get copy of that form so that you can make copies when you are going to buy items to for you to resell out to the public and show you how to and explain to you that you do have to be a registered sales and use tax collector for them and what forms and schedule that you will have to use to correctly send to them the amount of sales and use taxes that you did collect for them during each period of time as you are required to do OK. Federal taxes social security, medicare taxes plus your federal income tax amount that you will owe and need to make the quarterly estimated taxes during each tax year for this purpose and time in your life. Self employed independent contractor sole proprietor using your name and your SSN as your TIN number for this purpose of your own business operation at his time. Self employed independent contractor using your daily written receipt book records to report your gross income or loss on the schedule C or CEZ along with the SE to determine your NET PROFIT or LOSS from your business income during the tax year for this purpose. SE your social security medicare tax amounts that you would OWE on your NET profit amount that would end up the page 1 line 12 from the schedule C and any SE tax owed page 2 line 56 and page 1 line 27 Deductible part of self employment tax attach schedule SE line 27 $$$ amount. Starting, Operating, or Closing a Business Starting a Business Starting a business could be exciting. If you're considering starting a business, start here. This section provides information on everything from a checklist for a new business, to selecting a business structure, and more.,-Operating,-or-Closing-a-Business Hope that you find the above enclosed information useful. 12/22/2013
Answer #7 | 21/12 2013 15:32
Just don't mention that you worked for that guy at all because technically what records are there that you worked for him since you were paid cash, I know because I'm in the same situation it's not a big deal.
Answer #8 | 19/12 2013 11:03
There's NO WAY that I would give a prospective employer copies of 7 years worth of my W-2s or other personal tax records. At best I would offer redacted copies showing only where I worked, and possibly box 1 for the most recent year as substantiation of what I was paid. At most I'd offer 4 years worth, which is what the law says that I must keep. If this was a gig from more than 4 years ago -- 2009 or earlier -- I'd simply tell them that they are lost and cannot be recovered as the statute of limitations has expired.

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