Do you make money from a "trade or business?'

posted 1 year ago by MAG768720 1 year ago by MAG768720 +21 / -0

Are you engaged in a trade or business?

If so, do you KNOW what the legal definition of a "trade or business" is in the law?

You can find it in the tax code at 26 USC 7701(a)(26):

The term “trade or business” includes the performance of the functions of a public office.

There is NO OTHER definition of this term anywhere in the tax code.

FYI.

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– Furecrotch 1 point 1 year ago +1 / -0

Good, but what happens when the IRS contacts your workplace or bank with a lien or levy?

Someone had to sign their name and I would hold them liable. Go to my local district court and notify them that there is a void judgement on my property and I require a hearing immediately. If my workplace garnishes my wages without a court order then I hold them liable. Again, burning bridges but it’s probably inevitable.

Per 26 USC 3101(a)-(b), boxes 3 and 5 are about 3121(a) "wages" defined in terms of 3121(b) "employment" defined in terms of 7701(a)(9) "United States" defined in terms of the 7701(a)(10) "State". (The distinction between boxes 3 and 5 is made in 3121(a)(1).)

I missed that in your previous comment. So it’s not that I’m not an “employee”, it’s that my earnings did not come from any forms of “employment”.

Thanks again for taking the time to comment, I really appreciate it.

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