Birdwatch Note Rating
2022-12-13 23:14:54 UTC - HELPFUL
Rated by Participant: 5B28426A7485F4F908CEAC9971479B32B0F8F2544DFA3B368FF7A82850841C9B
Participant Details
Original Note:
A 1099-K for earnings over $600 from a side hustle or self-employment must be reported to the IRS. The IRS is working to increase its audit rates, but “resource constraints” have limited their ability to audit wealthy individuals & large corporations since the 2010 tax year. https://www.cnet.com/personal-finance/taxes/if-you-make-over-600-on-paypal-venmo-or-cash-app-this-year-the-irs-will-know/ https://www.cnbc.com/2022/06/02/irs-working-to-boost-audit-rates-for-higher-earners.html
All Note Details