2 edited tags
| link

Why should I report sideextra income from a side-job to the IRS?

    Tweeted twitter.com/#!/StackFinance/status/394080775454597120
1
source | link

Why should I report side income?

Say an individual earns extra money on the side by tutoring through craigslist. Moral obligations aside, why should that person report those earnings when doing taxes?

What I'm asking is how the IRS could possibly keep track of that?

I realize this sounds like a I-want-to-dodge-taxes question, but in actuality I'm looking to understand the way the system works. What's to stop people not reporting income earned in this manner?