SERIOUS tax question! Need help quick!
01-31-2007, 08:54 PM
#1
SERIOUS tax question! Need help quick! Ok...so I decided to do my girlfriend's taxes and its pretty straight forward with Turbo Tax. I did my own, thanks by the way for the lead, and it was very easy. I should be getting my return deposited sometime next week.
Anyhow, so we had it all wrapped up and she was going to get a pretty decent return until she got in the mail today a 1099-MISC. She did some side work in the summer like for a month's time. So I go back and revise her income and add the 1099-MISC. It made her return drop $380!
What will happen is she doesn't claim this form? Would the IRS know? Would there be any penalties, consequences, etc.? She wants to leave it off, but I wanted to get some opinions on this matter first before I submitted whether it would be with or without it. Thanks.
Anyhow, so we had it all wrapped up and she was going to get a pretty decent return until she got in the mail today a 1099-MISC. She did some side work in the summer like for a month's time. So I go back and revise her income and add the 1099-MISC. It made her return drop $380!
What will happen is she doesn't claim this form? Would the IRS know? Would there be any penalties, consequences, etc.? She wants to leave it off, but I wanted to get some opinions on this matter first before I submitted whether it would be with or without it. Thanks.
01-31-2007, 09:10 PM
#3
TECH Senior Member
iTrader: (15)
Join Date: Nov 2001
Location: Grand Prairie, TX
Posts: 5,109
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Dragaholic
Ok...so I decided to do my girlfriend's taxes and its pretty straight forward with Turbo Tax. I did my own, thanks by the way for the lead, and it was very easy. I should be getting my return deposited sometime next week.
Anyhow, so we had it all wrapped up and she was going to get a pretty decent return until she got in the mail today a 1099-MISC. She did some side work in the summer like for a month's time. So I go back and revise her income and add the 1099-MISC. It made her return drop $380!
What will happen is she doesn't claim this form? Would the IRS know? Would there be any penalties, consequences, etc.? She wants to leave it off, but I wanted to get some opinions on this matter first before I submitted whether it would be with or without it. Thanks.
Anyhow, so we had it all wrapped up and she was going to get a pretty decent return until she got in the mail today a 1099-MISC. She did some side work in the summer like for a month's time. So I go back and revise her income and add the 1099-MISC. It made her return drop $380!
What will happen is she doesn't claim this form? Would the IRS know? Would there be any penalties, consequences, etc.? She wants to leave it off, but I wanted to get some opinions on this matter first before I submitted whether it would be with or without it. Thanks.
01-31-2007, 09:17 PM
#5
TECH Regular
iTrader: (9)
Join Date: Oct 2005
Location: Sugar Land
Posts: 488
Likes: 0
Received 0 Likes
on
0 Posts
Yes, we will know. Thank you, I will be sure to update our files when I get into the office. We receive all 1099 forms before 1/31 of each year. We may not find it right away, but we will find it and penalize accordingly.
01-31-2007, 09:37 PM
#6
Fiery Features Director
iTrader: (11)
Join Date: Jan 2002
Location: Houston, Tx
Posts: 3,830
Likes: 0
Received 0 Likes
on
0 Posts
Of course they will find it. Every employer must report all income paid and they can match this to your employer id number. If your reported earnings don't match what is reported by the employer, you will be audited. Eventually you will have to pay the money back. You should do it right the first time. Never try to pull one over on the IRS because they bite back!
Trending Topics
02-01-2007, 06:10 AM
#12
TECH Junkie
iTrader: (3)
Join Date: Nov 2001
Location: TEXASS
Posts: 3,202
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Dragaholic
Ok...so I decided to do my girlfriend's taxes and its pretty straight forward with Turbo Tax. I did my own, thanks by the way for the lead, and it was very easy. I should be getting my return deposited sometime next week.
Anyhow, so we had it all wrapped up and she was going to get a pretty decent return until she got in the mail today a 1099-MISC. She did some side work in the summer like for a month's time. So I go back and revise her income and add the 1099-MISC. It made her return drop $380!
What will happen is she doesn't claim this form? Would the IRS know? Would there be any penalties, consequences, etc.? She wants to leave it off, but I wanted to get some opinions on this matter first before I submitted whether it would be with or without it. Thanks.
Anyhow, so we had it all wrapped up and she was going to get a pretty decent return until she got in the mail today a 1099-MISC. She did some side work in the summer like for a month's time. So I go back and revise her income and add the 1099-MISC. It made her return drop $380!
What will happen is she doesn't claim this form? Would the IRS know? Would there be any penalties, consequences, etc.? She wants to leave it off, but I wanted to get some opinions on this matter first before I submitted whether it would be with or without it. Thanks.
02-01-2007, 08:28 AM
#13
TECH Resident
Join Date: Mar 2003
Location: Texas...that says it all
Posts: 754
Likes: 0
Received 0 Likes
on
0 Posts
Damn it. I did my brothers and he worked at McDonalds for 1 day and they sent him something after I filed. Wonder what will happen to the little guy? 
02-01-2007, 11:27 AM
#18
TECH Apprentice
iTrader: (4)
Join Date: Dec 2001
Location: Houston TX
Posts: 327
Likes: 0
Received 0 Likes
on
0 Posts
It changed because she probably did not have any withholding from the Misc summer job,
YOu really do not want to get a big refund, you want to receive more of your money at the time you earn it, instead of letting the gov't have it in the form of witholding until you file and get it back as your return, ideally you should gauge and estimate it so that you only get back $0 or a few dollars.
ITs hard if you change jobs alot, etc,
YOu really do not want to get a big refund, you want to receive more of your money at the time you earn it, instead of letting the gov't have it in the form of witholding until you file and get it back as your return, ideally you should gauge and estimate it so that you only get back $0 or a few dollars.
ITs hard if you change jobs alot, etc,
02-01-2007, 11:47 AM
#19
Originally Posted by SERIALPIMP
It changed because she probably did not have any withholding from the Misc summer job,
YOu really do not want to get a big refund, you want to receive more of your money at the time you earn it, instead of letting the gov't have it in the form of witholding until you file and get it back as your return, ideally you should gauge and estimate it so that you only get back $0 or a few dollars.
ITs hard if you change jobs alot, etc,
YOu really do not want to get a big refund, you want to receive more of your money at the time you earn it, instead of letting the gov't have it in the form of witholding until you file and get it back as your return, ideally you should gauge and estimate it so that you only get back $0 or a few dollars.
ITs hard if you change jobs alot, etc,
02-01-2007, 12:40 PM
#20
On The Tree
Join Date: Jan 2007
Location: Killeen, Tx
Posts: 141
Likes: 0
Received 0 Likes
on
0 Posts
**** that dude, i know you guys want money but when it comes to the IRS don't try to **** with them becuase you the one that will be getting fucked. 380 is better than nothing and that what you will get trying to **** with them.