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/biz/ - Business & Finance


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13025124 No.13025124 [Reply] [Original] [archived.moe]

In 2018, I made less than the standard deduction of $12k, but my employer suddenly mailed me a 1099-MISC with about 1000 dollars in untaxed income that wasn't on my W2.
I didn't know about this 1099-MISC when I mailed in my return a month ago.
Even with this additional reported income, I still made less than the standard deduction so my refund amount wouldn't change, I would be getting back everything withheld for 2018 as a refund.

Will I get assfucked by the IRS if I don't mail in an amended return, or can I simply ignore it?

>> No.13025133

>>13025124
>he doesn't get paid in cash

>> No.13025174

>>13025124
What are you doing with it anon? Buying linkies? tendies?

>> No.13025187

Pay your taxes, goy!

>> No.13025220

>>13025124
https://turbotax.intuit.com/tax-tips/small-business-taxes/penalties-for-not-filing-a-1099-misc-irs-form/L4mwyM8Tk
https://www.irs.gov/pub/irs-pdf/i1099msc.pdf
Read the instructions anon

>> No.13025245

>>13025220
>you may also be subject to a penalty of 20% of your tax liability
But my tax liability for 2018 is literally zero, even after adding the income from my 1099-MISC.

>> No.13025272

>>13025245
I’m not a licensed cpa, use your noodle and read the instructions and decide for yourself what to do. Just know that TurboTax isn’t authoritative.

>> No.13025329

I'll file an amended return and hope I don't get any angry letters, I guess.
Thanks anyway.

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