so as a student i am right now living under my parents roof, the IRS won't be suspicious of my income because they don't see it. and i should report it, unless i am asked to provide my tax id.
i was wondering because i had never paid taxes, yet, and wanted to know what exactly i had to pay taxes for, which i guess is everything now
thanks for the information
if your parents are filing taxes as a joint account and you are in it...there is nothing to worry about, just report your income to your parents. You should report it, if you are asked for your tax id.
to stay away from trouble...you should always report your income...now if it is a one time job for lets say 100-500$ it should be okay. I am not a tax collector to tell the truth...laws change per state, depending on which state you live in this information may be incorrect.
Please do not quote me on any of this, as what I say can be wrong....
so...let me try to re-sum this
if you are working under the table....have fun with your money.
if you are working, with a company they will ask for Tax Identification, and then yes you will have to file your taxes for it.
There are a number of different taxes though....you are talking about income taxes...
I would suggest getting an accountant to do the taxes, or ask your parents or family/friends who are already doing this for more help....IRS income taxes isn't something I know a lot about, but I do know there are ways of not having to pay income taxes.