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OfflineArmy of None
Lt. Nothing.

Registered: 08/30/07
Posts: 451
Last seen: 11 years, 11 months
How much reported to the IRS?
    #7440407 - 09/22/07 12:52 PM (16 years, 4 months ago)

Hey guys, I have a question. I know that in Oregon you are allowed so much income under a certain amount (I think $2600) that you don't have to report. That is to say that anything over that amount the IRS needs to know about.

I have been looking at tax sites and have a few questions out but I cannot seem to find one that details each state. Anyone have any idea where I might find this or better yet if somebody already knows.

Thanks.


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InvisibleTODAY
Battletoad
Male

Registered: 09/25/03
Posts: 10,218
Loc: Metropolis City, USA
Re: How much reported to the IRS? [Re: Army of None]
    #7440466 - 09/22/07 01:07 PM (16 years, 4 months ago)

don't worry so much. the less you report, the more you keep and as long as it isn't an obscene amount you should be legit.


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ca'rouse (k-rouz)
intr.v.
To engage in boisterous, drunken merrymaking.


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InvisibleZippoZM
Knomadic
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Registered: 06/17/03
Posts: 13,227
Loc: Pongyang, North Korea
Re: How much reported to the IRS? [Re: TODAY]
    #7440478 - 09/22/07 01:11 PM (16 years, 4 months ago)

how did you get the money, was it cash, or was it a check or other recordable transaction>


--------------------
PEACE

:mushroom2:zippoz:mushroom2:



"in times of widespread chaos and confusion, it has been the duty of more advanced human beings - artists, scientists, clowns, and philosophers - to create order. In such times as ours however, when there is too much order, too much m management, too much programming and control, it becomes the duty of superior men and women and women to fling their favorite monkey wrenches into the machinery. To relieve the repression of the human spirit, they must sow doubt and disruption"

"People do it every day, they talk to themselves ... they see themselves as they'd like to be, they don't have the courage you have, to just run with it."


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InvisibleVeritas
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Registered: 04/15/05
Posts: 11,089
Re: How much reported to the IRS? [Re: Army of None]
    #7440808 - 09/22/07 03:16 PM (16 years, 4 months ago)

You probably will not find a single site which details the tax filing requirements for every state. If you need to know about specific states, I'd recommend searching for the Department of Revenue and the state in question.

As to what is reported to the IRS, all of your wages from employment will be reported, and all amounts over $500 from a single source of self-employment income are required to be reported by the payer. All interest and dividend income will be reported, as well as any inheritance amounts/property.

The IRS has much higher income limitations for filing requirements than Oregon, and probably higher than most states. These requirements are for income from employment, however, and not from self-employment. If you earn more than $400 from self-employment, you must file state and federal tax returns.


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OfflineArmy of None
Lt. Nothing.

Registered: 08/30/07
Posts: 451
Last seen: 11 years, 11 months
Re: How much reported to the IRS? [Re: ZippoZ]
    #7440876 - 09/22/07 03:43 PM (16 years, 4 months ago)

Quote:

Capatalistc nomad said:
how did you get the money, was it cash, or was it a check or other recordable transaction>




It was a cash under the table kind of situation. I guess that I could just keep it to myself and a take a what they don't see, wont hurt them stance, as far as the IRS is concerned.


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