If you earned at least $600 from a part-time temporary job as a contractor, sold securities or earned interest/dividends on your investments, you’ll get a 1099 form. Although it may not seem important to you, it sure is.
The IRS also receives a copy of every 1099 form sent to taxpayers. If you don’t report this income, there will be a difference between what you claimed and what the 1099 showed. From that point on, the IRS won’t be so happy about it.
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