e-tax matters

 

 

Frequently Asked Questions and Answers
Question My son, who is 17, worked during the summer and earned $3,650. Does he have to file a tax return?
Answer If your son is your dependent and has no other income, he is not required to file a tax return as his income is under $4,750. If your son also has unearned income, such as interest and dividends of over $750, he must file.
Question I do odd jobs on weekends which includes mowing lawns and so on. My total income amounted to $976 last year. Do I have to report that income? No one gave me a 1099.
Answer Yes. A 1099 is prepared to report such payments to the Internal Revenue Service. It is not a notice for you. Whether or not you receive a 1099, you are required to report such income.
:

Home Tax Info Q&A Privacy Policy Links

Copyright © 2003-2005 e-tax matters, inc. - All rights reserved.
: