My current situation is difficult. Technically I was unemployed all year. I did watch a child and get paid for it though. Do I tell this to the irs?? I dont wanna screw myself and pay alot of taxes on the income that I did receive, but I dont wanna be dishonest either. All prior years that I have filed (was employed though), I have filed head of household and have 2 dependants, and for whatever reason have received a pretty generous amount back.So I certainly wanna file my taxes if i will receive back. Do i owe the irs for the childcare income? Also, I received childsupport, as well as my father sends me a check monthly to help out until i find a job. I was told that i need to file my taxes for this income received. I dont mind doing so, but should i be prepared to owe taxes or is there a good possibility that i will get $ back like previously?? Does anyone have any advice? Or know how I can find out correct information on this?
You must file taxes and pay on any income earned; be it interest, dividends or employment. Because the employer paid you under the table, you will have to pay both halves of social security and medicare. Not reporting income is a criminal offense. Seek advice from a tax professional. Not all preparers that work for the large Tax Prep firms are licensed, and they may not suggest you file.
Source(s):
IRS Pub 15 or 17.
How can you get anything back if nothing was withheld?
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