Most income is taxable, whether you earn it or are paid as a return on your investment. Also, you generally have to pay tax on income when you sell something for more than your basis (usually the amount you paid for something).
If a type of income is taxable, it doesn't matter if you receive payment in cash, by check or electronic payment, or in the form of goods or services. You still pay tax on it.
Certain types of income are excluded from tax. This generally includes income you or someone else has already paid tax on, or income from special situations, such as combat pay.
Check this list to see if you have to pay tax on various types of income you may receive:
Dividends are not taxable when they are a return of capital. In other words, you don't pay tax when you are receiving back part of your investment, because it is not a share of profits.
September 2 — Everyone
Federal Holiday (Labor Day) Details
September 10 — Employees who work for tips
If you received $20 or more in tips during August, report them to your employer Details
September 15 — Individuals
Make a payment of your 2019 estimated tax if you are not paying your income tax for the year through withholding (or will not pay in enough tax that way). Use Form 1040-ES. This is the third installment Details
September 15 — S Corporations
File a 2018 calendar year income tax return (Form 1120S) and pay any tax due. This due date applies only if you timely requested an automatic 5-month extension Details
September 15 — Partnerships
File a 2018 calendar year return (Form 1065). This due date applies only if you were given an additional 5-month extension Details
September 15 — Corporations
Deposit the third installment of estimated income tax for 2018 Details
September 15 — Social security, Medicare, and withheld income tax
If the monthly deposit rule applies, deposit the tax for payments in August.