lol.... for a small ass amount they're REALLY gonna come after me for not reporting a couple thou?!?!? There are MILLIONS of ppl living in the U.S..... you really think they come after EVERYONE who dont pay their taxes? get real!
If a 1099 was issued, YES! The matching of issued tax forms and reported income is all computerized. One day, you will get a letter in the mail from the IRS with your tax and penalties due. And if you ignore that, one day, there will be a knock on your door...Originally Posted by BughouseMASTER
About 10 years ago, I got a letter like that for $10 in interest I forgot to report because I never got my copy of the 1099. Not getting the form in the mail is no excuse.
If a 1099 was issued, YES! The matching of issued tax forms and reported income is all computerized. One day, you will get a letter in the mail from the IRS with your tax and penalties due. And if you ignore that, one day, there will be a knock on your door...
About 10 years ago, I got a letter like that for $10 in interest I forgot to report because I never got my copy of the 1099. Not getting the form in the mail is no excuse.
Thanks for the info. Are BJ TOURNAMENT WINNINGS usually reported on a 1099? That's hwat I think they sent me which I misplaced! Dammit.
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