ANSWERS: 1
  • If you received the money (check) for the pay period Dec. 15-31 in January 2008, then it is taxed as 2008 income. The IRS treats individuals as "cash basis" taxpayers. Income is treated as earned when cash is received. You probably didn't receive your pay until January, hence it is 2008 income.

Copyright 2023, Wired Ivy, LLC

Answerbag | Terms of Service | Privacy Policy