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Tax Question - Need Federal Tax ID for Hubpages

  1. kittythedreamer profile image98
    kittythedreamerposted 5 years ago

    I am filling out my 1099 Misc Form to submit with my taxes but cannot turn it in because I do not have Hubpages Federal Tax ID #. Does anyone have it on their form from last year? Or does someone know how I can get the number so that I can submit my taxes? Thanks!

    1. paradigmsearch profile image92
      paradigmsearchposted 5 years agoin reply to this

      I'm no expert, but are you sure about this?

      http://thegirls.hubpages.com/hub/How-to … -in-the-US

      You are not an employee of HP.

      The IRS may comeback at you with penalties for using 1099-misc and avoiding SE taxes.

      To all. I'm really curious. Is 1099-misc acceptable for self-employment income?

      Also, even if it is acceptable to use 1099-misc; you are robbing yourself of SS benefits later on.

    2. galleryofgrace profile image81
      galleryofgraceposted 5 years agoin reply to this

      You cannot fill out your own 1099! If you didn't keep a record of your earnings then you shoould wait. You will receive a 1099 only if you made over $600.
      Put your earnings on Schedule C and Schedule SE. Take off your expenses If there's at least $400 left then you owe tax. You are a business.

      1. Cook n Save Money profile image79
        Cook n Save Moneyposted 5 years agoin reply to this

        This is correct. 
        You don't need a 1099 to report your profit and loss from business.  It works the other way around:  the IRS will be looking for a return from anyone that has a 1099, not a 1099 because there is self-employment income on a return.

        To figure your revenue for your schedule C, simply print or write down a record of the payments you received in 2012 as documentation in case the IRS randomly chooses to audit you. 

        If you make up a fake 1099-Misc that does not exist, it could actually flag you for audit as the IRS gets copies from the issuer, and in your case there is no issuer as HP doesn't issue 1099s and leaves that to Paypal and the 1099K rules, which are quite different than the 1099-Misc rules.

  2. Simone Smith profile image96
    Simone Smithposted 5 years ago

    Actually, as I understand it, the rules changed and apparently HubPages does not have to send out 1099-MISC forms in most cases (I believe our help documentation is being updated, but am not sure if that is finished yet).

    NOT OFFICIAL ADVICE OR EVEN NECESSARILY CORRECT: I just declared the earnings as profits as part of my "freelance writing business" along with other income I earned from contract employers who did not send 1099 forms to me (e.g. an overseas employer, small gigs, etc.). I was taxed the same amount for that income as I was for income I declared through 1099 forms.

    So my tentative answer is: we won't be sending 1099 forms. But I'm sending this thread to Marina so she can give the official answer.

    1. Marina Lazarevic profile image93
      Marina Lazarevicposted 5 years agoin reply to this

      That's correct. There is an announcement in My Account > Earnings as well as an updated FAQ entry  explaining why we are not sending 1099 forms this year.

      The short answer: the IRS introduced a new form (1099-K) this year requiring third part payment entities (such as PayPal) to send 1099s to qualifying venders for payments made using their services.

  3. paradigmsearch profile image92
    paradigmsearchposted 5 years ago

    Folks, trust me. As I intimated earlier, we are not going to hear from PayPal either.

    "Internal Revenue Code (IRC) Section 6050W states that all US payment processors, including PayPal, are required by the Internal Revenue Service (IRS) to provide information to the IRS about certain customers who receive payments for the sale of goods or services through PayPal. PayPal is required to report gross payments received for sellers who receive over $20,000 in gross payment volume AND over 200 separate payments in a calendar year. In order to help you understand these changes, we have prepared the following FAQs."

    https://cms.paypal.com/us/cgi-bin/marke … s/IRS6050W

    1. kittythedreamer profile image98
      kittythedreamerposted 5 years agoin reply to this

      You're right. Paypal said they are not turning in any 1099K form for me, and so I filled one out myself and have kept it on record and of course reported the earnings I made last year. Not sure what else I can do, hopefully that will suffice.

  4. paradigmsearch profile image92
    paradigmsearchposted 5 years ago

    Follow up:

    HP, bless their hearts, makes things easy.


    I pasted the page into a spreadsheet. Had my total 2012 payments in nothing flat.

    Google Adsense, the same.

    For me, those were my only writing income sources. So my math is done. big_smile

  5. Cook n Save Money profile image79
    Cook n Save Moneyposted 5 years ago

    You don't fill out your own 1099-k.  if you do, the IRS is going to wonder why they didn't receive a copy, reporting it to them, from Paypal. 

    You simply fill out schedule C to report your business profits/losses.

    1. psycheskinner profile image82
      psycheskinnerposted 5 years agoin reply to this