What is the name of your state (only U.S. law)? Arizona
I am a part time phone sex operator working through Niteflirt. Here is Niteflirt's tax policy:
"As of 2011, the Internal Revenue Service (IRS) requires all businesses that process payments to file a Form 1099-K for anyone who is eligible to work in the United States and receives $20,000.00 or more per year in payments (combined across all accounts).
If you are a Flirt who gets paid less than $20,000.00 from NiteFlirt in a calendar year, you will not receive a Form 1099-K and we will not report your earnings to the IRS for that tax year.
If you are a Flirt who gets paid $20,000.00 or more from NiteFlirt in a calendar year, we will send you a Form 1099-K and we'll report your earnings to the IRS. Your Form 1099-K will include a monthly summary of all payments for the tax year and should be received at your payment address by January 31 of the following year. For example, your Form 1099-K for the 2011 tax year should be received by January 31, 2012.
In order to prepare your form, we need to verify that your Social Security Number (SSN) or Employer Identification Number (EIN) matches your "Payable to" name. This verification process can take up to 5 business days. Edit your Payee Information if you need to make changes or add information. If your Payee Information cannot be verified before you are paid $19,000.00 within the tax year, your NiteFlirt payments may be suspended. Your earnings will continue to accumulate and will remain safe in your NiteFlirt balance until your Payee Information can be verified.
Although we are always willing to help you with any questions you may have, we are unable to provide tax-related advice or filing information. We strongly suggest consulting a tax advisor if you have questions about how this regulation may affect you."
I have made less than 20k through niteflirt in 2011, so they will not be sending me a 1099-k. I do have records of all money received from niteflirt. How would I report them to the IRS legally and properly? Thank you so much!
I am a part time phone sex operator working through Niteflirt. Here is Niteflirt's tax policy:
"As of 2011, the Internal Revenue Service (IRS) requires all businesses that process payments to file a Form 1099-K for anyone who is eligible to work in the United States and receives $20,000.00 or more per year in payments (combined across all accounts).
If you are a Flirt who gets paid less than $20,000.00 from NiteFlirt in a calendar year, you will not receive a Form 1099-K and we will not report your earnings to the IRS for that tax year.
If you are a Flirt who gets paid $20,000.00 or more from NiteFlirt in a calendar year, we will send you a Form 1099-K and we'll report your earnings to the IRS. Your Form 1099-K will include a monthly summary of all payments for the tax year and should be received at your payment address by January 31 of the following year. For example, your Form 1099-K for the 2011 tax year should be received by January 31, 2012.
In order to prepare your form, we need to verify that your Social Security Number (SSN) or Employer Identification Number (EIN) matches your "Payable to" name. This verification process can take up to 5 business days. Edit your Payee Information if you need to make changes or add information. If your Payee Information cannot be verified before you are paid $19,000.00 within the tax year, your NiteFlirt payments may be suspended. Your earnings will continue to accumulate and will remain safe in your NiteFlirt balance until your Payee Information can be verified.
Although we are always willing to help you with any questions you may have, we are unable to provide tax-related advice or filing information. We strongly suggest consulting a tax advisor if you have questions about how this regulation may affect you."
I have made less than 20k through niteflirt in 2011, so they will not be sending me a 1099-k. I do have records of all money received from niteflirt. How would I report them to the IRS legally and properly? Thank you so much!