Do I need to report my earnings for income tax purposes?

Do I need to report my earnings for income tax purposes?

If you're based in the U.S. and have earned money on oDesk, the short answer is, 'Yes, you DO need to report your income.'
And because of changes in the 2012 tax laws, most contractors, including those that earned more than $600, will no longer receive a 1099-MISC from oDesk. In lieu of a 1099-MISC, we highly recommend that you use your yearly summary, located in the Wallet tab, to accurately report earnings. Exceptions include:

Contractors earning 20k+ with 200+ transactions:

These folks will receive a new form called the 1099-K. Under the Internal Revenue Code (IRC) Section 6050W, oDesk will file a 1099-K form to the IRS for U.S.-based contractors earning over $20,000 USD AND with over 200 separate transactions in a calendar year. They will receive a copy of their 1099-K via U.S. Postal service by January 31 in order to accurately report their taxes.

W-2 employees:

W-2 workers or those with employee status must be hired through oDesk Payroll. If hired through the oDesk Payroll service, we handle all of the withholding and payment of taxes for you.

Non-U.S. based Contractors:

These contractors are asked to agree to a W-8BEN and are not issued forms.

One thing to remember—we are not tax experts! Please consult your accountant when tax time comes around. For official information, please visit the


IRS website.
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