/biz/ - Business & Finance

They tried to dox David Wu edition

FUCK OFF INCEL, I DON’T HAVE TO FILE
>That’s where you’re wrong kiddo
>Every American CITIZEN must file every year regardless of where they are
>Including those overseas/expatriates
http://archive.is/OlhXQ
STUPID VIRGIN, I MAKE UNDER $10.4K
>Hahaha, guess what, you're self-employed
>As the IRS considers you a sole-proprietor, whether you're a registered LLC or not, you are your business
>Did your net income exceed $400?
>Yes? Grab that 1099, time to file!
https://ttlc.intuit.com/questions/4224683-do-i-need-to-file-taxes-if-i-made-less-than-10-000-working-as-a-household-employee-last-year-i-saw-info-online-stating-that-i-dont-i-file-as-single-head-of-household
B-BUT THEY WON'T COME AFTER ME FOR ONLY $5
>IRS Comes Knocking… for Four Cents
>$0.04 turned into $200 after penalties and fees
http://archive.is/a8Sav
>Man makes $1,600 in commissions
>Didn't report them
>Gets fucked for $250k
>Gets allowed $6k monthly payments minimum
http://archive.is/aHFiw
BUT STATUTE OF LIMITATIONS
>Not so fast
>Some states don't have a statute of limitations and can chase after the taxed forever
https://www.hg.org/legal-articles/irs-tax-problems-the-tax-man-cometh-7486
THEY'RE NOT GOING TO HIT ME THAT BAD
>list of horror stories
http://archive.is/5TNDW
BUT THEY’RE DONATIONS AND GIFTS, I DON’T HAVE TO REPORT IT AS INCOME
>WRONG
>Twitch and streaming:
>Quora
http://archive.is/1MKff
>TurboTax
https://ttlc.intuit.com/questions/4189399-streaming-i-received-about-1000-00-through-streamlabs-a-3rd-party-and-about-2500-00-in-paypal-donations-since-the-income-is-under-20k-do-i-have-to-report-it
>German Law
https://www.own3d.tv/pay-tax-income-twitch/
>Streambig
https://www.streambig.net/stream-big/streaming-and-taxes
>Streamersquare
http://archive.is/HKNCp