Will IRS come after me after paying cash for a $10,000 car?
I have a job and has worked through out my life. I just turned 25. However, I have a job where I only make about 1800/monthly after taxes. $1500 goes straight to my savings, my savings is approaching $8,000. However, by the next two weeks I should have $10,000 or more to go cash out on a jeep. I honestly been working day and out, freelancing websites, outsourcing big website projects to India charging a middle man fee, I've been flipping clothes on eBay, I've been flipping Iphones & laptops on craigslist, buying broken iPhones or locked iPhones, I know how to unclock them, and I been doing other odd jobs. Really don't have much proof cause most of these things were paid in cash, I have a few transaction thru PayPal but in 16 days I made $4800. I look to make at least another $4000 by next week and probably sell my piece of **** car for $1000 and Be really close. Will the IRS penalize me or how does this work? Most of my income come from making websites and I charge $500 for each website and I sold 5 just last week paid cash.
Now what,?
That's just silliness.
Of course not.
Is your savings under your pillow? It should be in a bank or S&L. If it is, just get a Chas heirs check.
Sadly, why oh why would you ever pay cash. You have no vLid legal receipt for your funds!
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