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If I earned $50 from driving Uber, would it matter if I didn't claim that on my taxes?
Assuming the money for Medicaid, etc. wasn't taken out.
What I am asking is, would the government care about $50 not being added to my yearly income when I file taxes?
17 Answers
- ReenaLv 71 year agoFavorite Answer
Don't worry about it.... unless you make more than $600 a year with Uber they don't issue a W-2 for it.
- Anonymous1 year ago
Yes it matters, better to be honest, especially when trump gets away with not being.
- Nuff SedLv 71 year ago
There are numerous exemptions in the federal tax laws for people who don't make enough money to owe taxes or even need to file a return. If that $50 is your only income, you may be good to go. Otherwise, you'd have to work out what your tax liability might be with the Extra $50.
- 1 year ago
If it's a $50 per day or per week, then it would be big money, but if it's only one time $50, then you don't have to worry about it. that'ts not money anyway.
- JudyLv 71 year ago
Yes, their computers pick it up automatically and send you a bill showing the entire amount as taxable, not applying any deductions.
- USAFisnumber1Lv 71 year ago
I believe at the end of the year Uber sends a 1099 form to the IRS. You might want to check on the website, you can down load it. If they do then you have to claim the money or you get hit with tax fraud because they send a copy into the IRS.
- ?Lv 71 year ago
Uber will send one copy of the 1099 showing you earned $50 to you and another copy to the IRS. Whenever the IRS receives reports of earnings for a person that that person doesn't claim on their tax return, it matters because it results in as little as them figuring out what you owe them with that amount added to your AGI and also adding in interest and penalties and then sending you a collection letter to as much as auditing you to see where else you're cheating on your taxes. What you should do, what any smart, ethical person does, is report the $50 but then claim the exemption from having to pay taxes on net earnings from self-employment under $400. You end up paying nothing but showing that you're completely above board, thus keeping your butt out of a sling and keeping yourself from being charged taxes, interest, and penalties on income you could have otherwise claimed an exemption for but now don't get because you didn't, in fact, do that.