IRS Income Tax and Self Employment Woes with 1099K

Being self-employed is, at the best of times, unpredictable. At the worst, like tax season, it can be a nightmare. Take this new US law that companies don't have to issue 1099-Misc income forms, unless they take out taxes--the old way was if you made $600 that year, you got one, regardless.

The IRS still requires you to report all income, regardless of whether you get a form or it reaches the $600 threshold. Yes, even your Bubblews income. But the 1099-Misc helped as it proved that you and the company were on the same page about what you earned and what they reported. And it was helpful for record-keeping. Some of us earn thousands of dollars across numerous writing sites. It doesn't matter if you file or pay someone--it's a lot of miscellaneous income to be responsible for reporting correctly. And a lot of margin for error without a checks and balance.   IRS Income Tax and Self Employment Woes--1099-Misc and Paypal 1099K