0
What are the tax implication regarding being paid under the table?
Wiki User
∙ 15y ago
Well, one of three things comes to mind: 1. You get away with it, and there are no implications 2. Your employer decides he wants to prove that he paid you, so he issues you a 1099-MISC at the end of the year. Little did you know that he was going to treat you as an independent contractor, and now you not only have to pay income tax on the amount that he paid you but also self-employment tax (an additional 15.3%). 3. You get caught, get charged with tax evasion, and go to jail. Really, I suspect #1 and #2 are the most common.
ANSWER: If you are being paid "under the table" this implies you are evading taxation. If you are paid over the table without regard to taxation no tax evasion is implied. If your employer files an 1099-MISC at the end of the year he did so with your authorization. If he did so with out any authorization on your part he did so in error. If you are charged with tax evasion this is not a guaranteed path to conviction especially if you are not liable for a tax or subject to any revenue laws. If you are not subject to any revenue laws there is no reason to be paid "under the table" as you are not hiding anything and everything you earn is no body's business but your own.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
How do you prove someone is being paid under the table?
Proof that someone is being paid 'under the table' could be obtained through video/audio records which would probably best be obtained by a licensed private investigation agency.
What should you do if you were laid off for no reason but you were being paid under the table?
keep my mouth shut.
What does 'FDRL' under Disposition in court mean?
In California, it means the person is being released under the Federal Guidelines regarding overcrowding within the prison and jail system.
What is an example of a phycisa rather than a chemical change acigarette being smoked sawdust that is piling up under a table an old garden rake that is rusting?
sawdust that is piling up under a table - is a physical change
What does the slang expression a cat under the table mean?
cat is under the table
Is working under the table legal?
No that's why they call it dealing under the table. Or out of sight.
What is the preposition for the ball rolled under the table?
The ball rolled across the table.
If a box is on top of a table what is under the table?
tape
Examples of object of a preposition?
mary hide under the table("under" is the preposition,and "the table" is the object)
When was Under the Table Tennis created?
Under the Table Tennis was created on 2010-05-18.
How do you use under in a word?
Under the table
What is W2 basis?
It means you will be paid as an employee, not a contractor, with al proper payroll accounting (withholding) being done. Not under the table.
