sgontu Posted May 23, 2012 Report Share Posted May 23, 2012 Can somebody share any info on this 600 limit stuff? 1. Do the panel ask the member to submit a form? 2.If yes, What happens after that?? 3. Does the panel report it to IRS or is it the individual who is responsible to report it to IRS? 4. What is the tax imposed on survey panel earnings?? 5. So do i not need to report anything to IRS if my survey earnings are under 600? Never had to go through the process since i never made that much earlier. Link to comment Share on other sites More sharing options...
avemaria Posted May 23, 2012 Report Share Posted May 23, 2012 all i know is you only have to report if you reach that mark.. i haven't reached that mark on any company yet but i'm just below the limit with surveyhead and OO.. i do know from reading here though, that with OO, once you reach that mark, if you try to cash out above the mark you'll get a message telling you they can't process your payment until you show them the submitted form.. and i think they give you a link to do so.. i'm guessing this is for SSI in general, which means OO and Surveyspot combined. I wrote and asked them so i'll post that when i get the reply. Link to comment Share on other sites More sharing options...
avemaria Posted May 23, 2012 Report Share Posted May 23, 2012 Thank you for your e-mail. Once you have attempted to claim close to a total of 6,000 points ($600) or more in a given calendar year, you will need to fill out Form W-9 as we are required to report your earnings. The $600 limit is for all Survey Sampling panels, so if you belong to multiple SSI survey sites the cashouts are combined to one total. If you need to fill out a W9 form, please download, print and fill out the form (including the signature) found on the IRS site. Please go to http://www.irs.gov/. Under Forms and Pubs, click on the W-9 form. Once you have filled out all the required information, please return the form to the following address: (via Snail Mail): Survey Sampling International, Attn: Susan Evans, 6 Research Drive, Shelton CT 06484. Once we receive the form, your claim status will be updated and you should be able to start claiming your rewards again. Should you have further concerns, please let us know. Best regards, Rona Opinion Outpost Helpdesk Link to comment Share on other sites More sharing options...
avemaria Posted May 23, 2012 Report Share Posted May 23, 2012 which sucks really.. i don't know how they can justify taxing people that 'earn' below the minimum and aren't employees.. they lower the paid amount and basically take away the money from us that we're supposed to pay out.. but we still have to pay out.. and i don't know what their definition of 'calendar year' is.. if i earn $590 at the end of 2012, can i earn $590 at the beginning of 2013? hypothetically earning $1180 in 8 months time if each block is done in 4 months.. it's done in 2 'calendar years', but within 1 12 month cycle.. who knows. Link to comment Share on other sites More sharing options...
sgontu Posted May 23, 2012 Report Share Posted May 23, 2012 Sounds absolutely ridiculous. To earn a dollar you spend so much time and so much follow up, and then you pay taxes for your little pennies you collect for buying a gift. Anyways just fyi, Surveyhead does not ask for any such form. I was not asked for one. You can confirm with Jessica and happily continue taking surveys thereafter. Link to comment Share on other sites More sharing options...
sgontu Posted May 23, 2012 Report Share Posted May 23, 2012 I also believe you can stop redeeming for the rest of the year in OO and just keep the points in there. I believe you can redeem in the new year 2013. Check with Shellani from OO if points expire anytime. She is very helpful and patient with your questions. Link to comment Share on other sites More sharing options...
avemaria Posted May 23, 2012 Report Share Posted May 23, 2012 Sounds absolutely ridiculous. To earn a dollar you spend so much time and so much follow up, and then you pay taxes for your little pennies you collect for buying a gift.Anyways just fyi, Surveyhead does not ask for any such form. I was not asked for one. You can confirm with Jessica and happily continue taking surveys thereafter. what amount are you up to with surveyhead? once i finalize all the cashouts from their 3 sources (including the greeting card panel) i'm about $30 below the mark. I'd love to continue on with surveyhead because they've become the best site for me. I'd just hate to continue on and have them report in the earnings.. in my case if i report it, they'll take it all away from me.. i've been home with an injury for a few months, which is why i've been able to do so much.. Link to comment Share on other sites More sharing options...
sgontu Posted May 23, 2012 Report Share Posted May 23, 2012 I havent counted but i m pretty close to that number considering all their panels and other sources like greeting cards. I m not sure if i crossed it but i did not get any message. Its better we check directly with Jessica than speculating. Link to comment Share on other sites More sharing options...
sgontu Posted May 24, 2012 Report Share Posted May 24, 2012 Here is what is available on Survey police website... There is no figure as 600 r something, Anything we earn should be reported to IRS. Its recommended you get a w99 form from all the panels where you make decent money. Paying Taxes on Online Survey Income - USA The IRS (Internal Revenue Service) requires all individual income to be claimed, no matter what the source. There is no such minimum dollar value such as $500 or more that has to be claimed - each and every penny you make should be reported on your personal income tax to the IRS. Online survey earnings are normally reported under "other income" on your personal income tax. Records that substantiate the amount of this income (such as check stubs from market research companies) should be kept on file. If you receive a W99 form from a market research company, you are considered a self-employed contractor of the marketing firm. Your total yearly earnings should also be claimed under "other income" on your personal income taxes, however you are also able to complete Schedule C, which allows for deductible expenses. Expenses incurred taking online survey taking are minimal, but can include such things as internet access, electricity, office furniture, computer equipment, etc. These expenses will offset your total income earned, but you will still be required to pay self-employment tax on the remaining income. If you claim a substantial amount of income on the "other personal income" line of your personal income tax without completing Schedule C, the IRS will question this. It is important to receive W99 forms from market research companies with whom you have generated large amounts of income from. Not only will this appease the IRS, but it is also beneficial for you to be considered self-employed as you are able to write off expenses. If you have not received a W99 form from an online survey company, contact them and ask them to issue you this form. If you have additional income tax questions, please contact the IRS directly. Link to comment Share on other sites More sharing options...
avemaria Posted May 24, 2012 Report Share Posted May 24, 2012 so there's no procedure on surveyhead? i just don't want to keep going and they report in and i lose everything i earned. I'm not reporting what i don't make the minimum on at least.. plus what i made from them went to charity anyhow so it's not even in my hands. Link to comment Share on other sites More sharing options...
sgontu Posted May 25, 2012 Report Share Posted May 25, 2012 Update : I came to know if your earnings form a site is less than 600$ , there is no tax liability. Link to comment Share on other sites More sharing options...
Not-a-Sucker Posted May 25, 2012 Report Share Posted May 25, 2012 Update : I came to know if your earnings form a site is less than 600$ , there is no tax liability. Legally, technically, there is. The company doesn't have an obligation to report it to the IRS, but you do. Just like if you win $10 in a lottery. They want their share of EVERYTHING. They just don't enforce it much, because the cost of enforcement would be more than they would get. But I guess if they get you on something else, they will look at this type of thing as well. Link to comment Share on other sites More sharing options...
avemaria Posted May 25, 2012 Report Share Posted May 25, 2012 of all the money they throw at the banks and other useless crap.. even printing money when they don't have it and need it.. and we are denied just trying to make some extra money to fill our gas tanks and buy food and clothing for our families.. the world is wrong. Link to comment Share on other sites More sharing options...
peach6 Posted May 25, 2012 Report Share Posted May 25, 2012 of all the money they throw at the banks and other useless crap.. even printing money when they don't have it and need it.. and we are denied just trying to make some extra money to fill our gas tanks and buy food and clothing for our families.. the world is wrong. I agree with you I don't think that they pay us enough that we should have to claim any of this.I don't think it would hurt me because my husband is on permenent disability but if I would have to print the forms and mail them to the survey companies it would be a pain in my butt that I would not look forward to have to do.I just try to make some extra either on amazon for gifts or for myself once in awhile. Link to comment Share on other sites More sharing options...
avemaria Posted May 30, 2012 Report Share Posted May 30, 2012 finally Link to comment Share on other sites More sharing options...
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