Do I report this income...?
 

OK, one of the sponsors I use is in Australia and I am in the United States. They wire transfer me money each month. They say that they don't send out 1099's, and they don't report to the IRS how much money they send me each year.

They probably sent me something like $8,000 last year. How do you guys in the U.S. handle it when you get paid by someone in another country and they aren't reporting it? Is it under the table or what? Should I report it even though the IRS apparantly will never find out?

Yes they have my social security number on file, but they said it's just because the software they use for the signup process has a field for it, and they don't do anything with it.

If you get audited, and the IRS asks for bank statements... you're busted. Remember, if it goes into a bank account, the IRS will find it.

What money? Mr IRS auditer, I have no clue how that got in there

It is illegal not to report any income. I know in Canada banks report to the revenue service automatically over a certain amount a year, and over $10,000 deposited in a month. Probably similar in the US.
ZoiNk

keep your dick clean, you won't get burned.

Too late. Look at his name.

whats the amount for banks in canada before they report it to irs anyone know?

lol

Banks in Canada don't report anything to the IRS (which is in the States). Doh.

Banks in Canada don't report anything to the IRS (which is in the States). Doh.
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what did u mean by "(which is in the States). Doh."

Pay the nice men with the guns the money and no one gets hurt....

i do it's just interesting...

I f they wire into your account, then yes there is a paper trail and you can be had. If they send it to you in a birthday card in cash then don't put it into your account and don't worry about it.

BUT YES SINCE IT GOES OVER YOUR ACCOUNT THEN YOU MUST REPORT IT!!!