Sorry, this new question is along the same lines but more focused. Since the earlier question was worded differently and I got so many responses, I figured I wo...
I believe, there should be a mechanism whereby "gift money transactions" less than $16,000 per recipient per year are also "labeled at source" as "gift" in orde...
But how will IRS find out if any product or service was provided in return for money received without auditing the recipient if they don't report it on their ta...
By self employed, I was referring to people like house painters, when we pay them, for example, $1500, we don't make a 1099 for it, so what if they try to evade...