Cash "under the table"

jtmoney
Fri, 09 Mar 2012 09:21:11 +0000

If cash was banned and all transactions were traceable by the IRS the budget could be balanced. It really is other income, but I would guess most people don’t tell the IRS about it. As self employed income it probably wouldn’t create a income tax burden, but it might cause you to pay self employed social security taxes. D has 1099-misc forms from some of her jobs, and with nothing withheld the social security tax takes a bite.