Tax Question

[PICK3]

How much $$$ or dividends can you make on traditional savings accounts without declaring them?

 

[digimon7068]

How much $$$ or dividends can you make on traditional savings accounts without declaring them?

if it's less than $10 most banks won't give you a 1099. . .if it's $1 or more, you gotta put it on your return (assuming that you're required to file one) regardless of whether you get a 1099 or not. . .

 

[chris302001]

1$ bob!

 

[digimon7068]

1$ bob!

in b/f you dr. smarty-pants

 

[chris302001]

in b/f you dr. smarty-pants

fuck!

 

[PICK3]

if it's less than $10 most banks won't give you a 1099. . .if it's $1 or more, you gotta put it on your return (assuming that you're required to file one) regardless of whether you get a 1099 or not. . .

Thanks, I hate to end up going to prison for tax invasion and end up getting butt fucked.

I'm too pretty for that ... just sayin'

 

[chewyxrage]

if it's less than $10 most banks won't give you a 1099. . .if it's $1 or more, you gotta put it on your return (assuming that you're required to file one) regardless of whether you get a 1099 or not. . .

They won't do shit if you made like $25 from a savings account in interest and don't declare it........right?

 

[chris302001]

They won't do shit if you made like $25 from a savings account in interest and don't declare it........right?

oh, Barry's gonna bend your ass over!

 

[PICK3]

oh, Barry's gonna bend your ass over!

stimulus package

 

[chewyxrage]

IRS is to busy going after the swiss bank accounts to worry about lil ole me

 

[digimon7068]

They won't do shit if you made like $25 from a savings account in interest and don't declare it........right?

depends. . .if you got a 1099. . .then that means the irs got one too. . .and they're waiting to match that information up with the information on your return. . .if you are on the edge of the next bracket, and that $25 puts you over, such that they'll get more tax, plus penalties and interest. . .then. . .of course you'll get a notice. . .it's automatic. . .the computer just generates a notice and that goes directly in the mail. . .i mean. . .it's probably not gonna trigger an "audit" or anything like that. . .you'll just get a bill. . .

 

[PICK3]

depends. . .if you got a 1099. . .then that means the irs got one too. . .and they're waiting to match that information up with the information on your return. . .if you are on the edge of the next bracket, and that $25 puts you over, such that they'll get more tax, plus penalties and interest. . .then. . .of course you'll get a notice. . .it's automatic. . .the computer just generates a notice and that goes directly in the mail. . .i mean. . .it's probably not gonna trigger an "audit" or anything like that. . .you'll just get a bill. . .

so what you're telling me is that there's no ass raping penalties associated

 

[chewyxrage]

depends. . .if you got a 1099. . .then that means the irs got one too. . .and they're waiting to match that information up with the information on your return. . .if you are on the edge of the next bracket, and that $25 puts you over, such that they'll get more tax, plus penalties and interest. . .then. . .of course you'll get a notice. . .it's automatic. . .the computer just generates a notice and that goes directly in the mail. . .i mean. . .it's probably not gonna trigger an "audit" or anything like that. . .you'll just get a bill. . .

Ah, I see. So no big deal. I already received my refund about a week ago but I'm assuming any notice such as that would take a few months to get in the mail.

 

[digimon7068]

Ah, I see. So no big deal. I already received my refund about a week ago but I'm assuming any notice such as that would take a few months to get in the mail.

nah. . .if you already got your refund, something like that (i.e. a 1099) would almost certainly have already been taken into consideration. . .you s/b good to go. . .

 

[Jon79]

Thanks, I hate to end up going to prison for tax invasion and end up getting butt fucked.

I'm too pretty for that ... just sayin'

im too pretty for prison as well. specially federal pound me in the ass prison.