I know I will earn over 600on Mturkk this year as I have already gotten over 200, and they know require your s.s. number before you can do tasks. I.R.S. new implemented rules. I write SEO articles, too, and get paid through paypal and it's highly possible my paypal account will reflect over 600 this year being deposited. I guess I'll have to contact them to see how that works.
The rules are not new... requiring that you report (& potentially pay tax) on all of your income (even small amounts from side projects) is a fundamental part of the tax code and has been for a long time.
You have to declare any income ...however small/large it is. The $600 limit is for the payee to have to report it to the IRS on a 1099.
This is correct. $600 is when FC
has the requirement to report it to the IRS. Below that, the onus is strictly yours. In any case you are most likely required to report any / all income.
If you (or FC) is audited and the IRS subpoenas our payment records, there is the potential that they'll hold you liable for the taxes due on amounts less than $600.
I am not an accountant or lawyer, this is not intended to be tax advice. You must seek the help of a professional who can understand your particular situation, since everyone's tax situation is different.
Actually, if you get to the truth, according to soverign orders. paying taxes is illegal.
I try to stay out of religious debates, but, didn't Jesus say "Render unto Caesar the things which are Caesar's, and unto God the things that are God's"? ( http://en.wikipedia.org/wiki/Render_unto_Caesar