sas276
02-06-2007, 07:23 AM
I've filed chap 7 no asset case and my case was closed in jan 07. today i received an inquiry from a staffing firm I used a few years ago. they have a freelance opportunity for me to interview for a contract that would pay around $12k. would this check be reported to the irs or cause a red flag on my case when i deposit it and do i have to disclose this paycheck to the trustee even though my case is closed?
If you filed chapter 7 and your case is "closed", you have no further obligations vis-a-vis your bankruptcy. You bankruptcy is over. As for the IRS, I suppose, if this is a legitimate outfit, the money would be reported as income to the IRS and therefore you would need to deal with it when you file your taxes for tax year 2007.
NoName
07-24-2007, 01:24 PM
All contractors by law should receive a 1099 form to file with their taxes at the end of the year. You will need to consult a CPA or tax attorney in your area to see how much of that $12K you need to withhold for tax liability.