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Tax Audits😭

Started by Christina B.
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C

Christina B.

Will I receive my refund and stim this tax season if my 2019return is still being audited?

M

Mike M.

I am not an authority on this matter, but chances are good you will.

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Deirdre L.

is anyone else receiving a 1099k from paypal for their saverlife transactions? I did and they are saying the money for example that i won on the scratch offs or random $50 drawings for tax time pledges etc are for the sales of goods and services. this 1099k is sent to the IRS and is reported as income

Deleted user

Hmm that sounds shocking Deirdre. I'm glad you shared this so I can avoid using Paypal on this platform.

M

Michael M.

Technically, what you receive from saverlife is taxable as income

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Katharina R.

I was wondering about Saverlife money being taxable income. Unless you win a large amount of money it shouldn't effect your taxes anyway. You just have to make sure you report it, if you get a 1099K

M

Michael M.

What ever you do to win money on saver life is rendering a service to them in the IRS's view therefore when you get money it is taxable. Paypal makes an assumption about something being sold, which is wrong but the payment is still taxable as you did something to get it. Some one walks up and hands you a gift of money, that you did nothing for, that is not supposed to be taxable.

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