Quote:
Originally posted by BigFish
100% sure. IRS has a very strict definition of income. if you found a radio in the park, technically, you have to report it as income!
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the key word is technically.
Years ago I didn't know that I had to pay income tax on unemployment. I think I owed the IRS about 900.00 and they sent a letter. I called IRS and said I was unware and could I make two installment payments this month.
To my surprise, the IRS customer service person said fine but if you don't make them then you are in trouble. Being somewhat naive, I asked is there was an alternative.
His reply was let us put you on a monthly payment plan at 25.00 per month and if you pay the amount due within the month no interest and if you decide to pay 25.00 per month interest will be applied. I paid the monies due.
Knock on wood that I don?t get audited for the year 2002 since my cat pissed on a pile of receipts and they are in a plastic bag attached with a note from my accountant and from my insurance company that I reported it. I doubt if the IRS people would like to scuffle through that bag.
