Question

I need to know how to do your taxes if you get paid cash. I’m not sure how to pay taxes if paid in cash — how do I go about reporting my cash earnings?

Answer

Regarding how to do your taxes if you get paid in cash, you must report all income from a business or side job, regardless of how you were paid. This includes:

  • Cash
  • Credit
  • Debt
  • Paypal
  • Barter

Here’s how to pay taxes if paid in cash if you received more than $10,000 in cash in one transaction or two or more related transactions: report it to the IRS using Form 8300.

Related Topics

Related Resources

Do I Need To File For A State Tax Extension?

Do you need to apply for a state filing extension? Learn more from the tax experts at H&R Block.

Can I Cancel My IRS Electronic Funds Transfer?

Have you set up an IRS electronic funds transfer to pay your taxes and want to change the amount? Find out what you can do with help from H&R Block.

Worker Classification

Need help determining worker classification? Read the IRS definition and get more insight from the tax experts at H&R Block.

IRS Letter 1020 – Audit Status

The IRS is sending you information about your audit. Learn more about IRS letter 1020 from the tax experts at H&R Block.