Originally Posted by
peeches1211
Just so you know I currently work at a scrap yard in Michigan and we are not legally bound to turn any information over to the government for tax purposes. It is up the individual to claim the extra income. I can tell you that the only customers of mine that do report the income are the ones that are registered with the state of Michigan as a scrap business. Not to mention if they do change the laws and require us to it won't be retroactive. Just thought I would share the rules here in Michigan. Not sure how the other states are.
When we got the mandatory ID at scrap yards law a couple of years ago (in Ohio), signs were posted that said explicitly that it was not for tax reporting.
It's really up to the individual to report.
I'd advise not having $100K in your bank account or any major purchases if you plan not to file.
You could be investigated as a drug dealer, terrorist, etc.
Not just a guy trying to make a living.
/2 cents
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