Tax Information With A Mother's Touch
Published by Eva Rosenberg, MBA, EA
Volume 6, Issue 264 June 25, 2004
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Tax Information With A Mother's Touch Published by Eva Rosenberg, MBA, EA Volume 6, Issue 264 June 25, 2004 |
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 » From: Texas Dear TaxMama: Is this unreported income? A small restaurant in town serves plate lunches at different prices and fried chicken. The owner does not always ring up cash money. She will hit 00s and put the money in the drawer or her pocket. I have helped out, not paid to work, in this business and the owner told me to just put the money in the drawer without ringing it up. There is no computer system used, no tickets for orders, we just remember what costumers ask for. There is no way to know how much food goes out; and no record of how much money comes in. How can the owner be reporting her income correctly to t he IRS? Alice  Oh, Alice, It may well be unreported income. If your boss isn't reporting it .... But you can never be sure. Perhaps she's totally ethical and adds it in when she files her income tax return? Of course, odds are, she's not reporting it. Sigh. You can report her if you like. If IRS is able to collect the back taxes, they'll give you a reward. (See the IRS information on rewards) Be careful and, think it through. You'll be hurting a friend. But if she's living so much better than you do, that may be why. Best wishes, Eva Rosenberg Your TaxMama  |
 
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| Library of Congress - ISSN 1532-0790 Copyright © 2000-2007 - Eva Rosenberg |
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