Birdwatch Note Rating
2022-12-07 16:25:57 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 7E2C111CCAC37CC290EF2AED4A7FC69C6AEC3325E733871663518DA0E2EBA426
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