Income Taxes
I babysit from my home. Do I have to claim my wages on my income taxes? If the people I babysit for claim their child care costs on their income taxes, do I have to claim them on mine?
Thanks!
Asked on 9/27/02, 2:48 pm
1 Answer from Attorneys
Alvin Lundgren
Alvin R. Lundgren, L.C.
Re: Income Taxes
The IRS requires that all earned income regardless of source is declared. If you do not claim income and you are audited by the IRS, it can require that you pay back taxes on the income as well as penalty and interest.
It does not matter to you what the people claim on their income taxes. In some cases a person can claim a deduction for child care, but whether or not the deduction is claimed, it will not affect your situation.
Answered on 9/27/02, 3:34 pm
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