The Relief Bill signed by the President includes a requirement for online companies to once again provide 1099 form reporting for earners making $600 or more per year, starting in 2022.
Don't know if anyone had heard of this news. And don't know how HP/Maven will work this back into their routine after years of it being the duty of PayPal.
I don't think that threshold ever went away. $600 has always been the minimum for independent contractors, which is what we are. You should always be prepared to claim the income if you receive $600+ from any one entity and don't have taxes taken out. PayPal doesn't pay us; they simply pass the earnings issued by Maven to the agreed upon account(s), in this case, PayPal.
The reporting threshold for self-employed people to report earnings to the IRS is $400, whether it is from one entity or many. HP doesn't currently have a $600 threshold for giving out 1099s anymore. I think the last time they did was over 10 years ago.
If you reach a $20,000 total payout and over 200 transactions, then PayPal sends out a different type of 1099 form.
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Judging from your post, I would recommend improving your English language skills. Your English is not good enough to write on this site. HubPages demands perfect or near perfect English from its authors.
Thanks for the heads up. Even though HP hasn't provided me with a 1099, I have reported my income from the site every year. Guess I am too honest.
OldRoses, a lot of people don't realize that reporting their full income is also beneficial for them in terms of future Social Security benefits. Because you pay Social Security and Medicare taxes out of your self-employment earnings it goes towards your earnings records for SS benefits. Since so many people have a hard time saving for retirement on their own, it's at least a side benefit for old age security.
I've been in the accounting field for 35+ years and anyone who is paid at least $600 by my employer receives a 1099 form at the end of the year. HP ignoring the $600 minimum is not legal. That indicates that they are not claiming all of their income, either.
I would imagine PayPal operates a bit differently due to the many people who sell products online.
Now that Maven has taken over HP, they are adhering to the tax laws.
Let me clarify: LLCs that are not S or C corporations, non-employees (individuals not on the payroll), partnerships receive a 1099 when they're paid $600+ within a tax year by a single entity. We are considered individuals or independent contractors by HP/Maven. Anyone who fills out a W-9 and uses their social security number, as opposed to a Federal ID Number, is subject to the 1009 rule.
HP did adhere to the tax laws and HP/Maven still does. The reporting requirements for 1099s changed during the Obama administration for internet companies, so that a number of online gig employers no longer legally had to produce 1099s. The onus for a 1099 in that case is on payment processors like PayPal and Amazon Payments after $20,000 in payments and over 200 transactions.
However, this is all changing in 2022, when the reporting rules go back to a $600 threshold for 1099-NEC.
I guess the government thought they were losing too many tax dollars. Online purchases are now subject to sales tax whereas until recently, they weren't. Uncle Sam always finds a way to take a slice of our pie.
Thanks for the clarification. I work for brick and mortars, so I wasn't aware of the online income exception.
I don't suppose anybody knows how this affects Canadians. We have a tax treaty with the U.S., that allows us to declare earnings from the States and be taxed on it by our government. I've never received documentation from PayPal, but I just declare the income on my tax filings. Seems to me that should be good enough.
It will make no difference to me, except I will have documentation of that income. I always report all of my online income to the IRS.
by Kitty Fields 11 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!
by Shanna 11 years ago
It's my first year doing taxes on my own and I'm a bit (actually completely) baffled.Has hubpages sent out the electronic w-2's yet? Do I just count it as part of my total income on my 1040EZ form? Was federal income tax withheld from my hubpages earnings, or will I owe money? Someone please take...
by Ruby T 6 years ago
If reporting earnings from HP, is "Hub Pages" the name of the company you are paid by for tax purposes?
by Adrienne Farricelli CPDT-KA, Dip.CBST 9 years ago
I usually get a 1099 by Amazon each year, not sure though how to proceed this year. As I understand, Hubpages payments now incorporate Amazon earnings, therefore since Hubpages doesn't send 1099s, I guess I do not have to worry about getting anything from Amazon this year? Is this correct?...
by Stove And Home 11 years ago
I saw a notice last night that HubPages will not be sending out 1099-Misc forms. The new rule is that PayPal will be sending out a 1099-K to Hubbers instead.But I read somewhere online that the 1099-K is only sent out to people who make at least $20,000 or more than 200 transactions through...
by plusMinus 9 years ago
I see that the tax related documents should be deliver electronically. But still I dont find such type of file or I am not seeing any download link to download that from my hubpages earning page. I am not sure what is the minimum balance requirement to get that file. Or how to download that file....
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