Do I Need to Report Income as an Independent Contractor to Unemployment?
Full Question:
Hi there!! HELP!! I am currently on unemployment and am working as an 'independent contractor' starting next week. Do I still have to claim that as income so as to cut my unemployment even thought I have no taxes being taken out?
10/06/2010 |
Category: Employment ยป Independent ... |
State: Florida |
#23341
Answer:
Gross income earned in self-employment must be reported for the week in which the wages were earned, not paid. A self-employed person is not eligible for benefits when engaged in self-employment for the majority of the time, even if no money is earned.
Any work and earnings not reported may result in a fraudulent overpayment determination.
Unemployment compensation fraud is a third-degree felony and is subject to prosecution by the State Attorney. A third-degree felony is a crime punishable by a maximum penalty of $5,000 and up to five years in prison.