@tax_info_seeker987 wrote:
I was wondering if self-employed people might evade taxes by claiming them as gift, a little far fetched, I guess.
That would be illegal, of course, and subject those people to civil and criminal penalties.
As @TomD8 mentioned, there are tax reporting statements (1099-NECs and others) that are filed with the IRS to minimize, or eliminate, the ability to conceal income.
Again, if ever examined and questioned, deposits are presumed to be taxable income if there is no other explanation for their source and nature.
