As an independent contractor, you are responsible for paying your own taxes. This includes self-employment tax and income tax. When you do work for a client through UpWork, they are not responsible for withholding taxes from your earnings.
The IRS requires that companies report earnings paid to contractors if those earnings exceed $600 in a calendar year. For this reason, UpWork will send you a 1099-MISC form if your total earnings with a client exceed $600 in a year. You can find more information on the 1099-MISC form and how to file it here:
PRO TIP: If you are an independent contractor working with Upwork, you are not considered an employee of Upwork and therefore will not receive a 1099 form from us. You are responsible for paying your own taxes and we recommend that you consult with a tax advisor to determine if you need to send in a 1099 form.
https://www.irs.gov/uac/about-form-1099misc
If you have any questions about whether or not you need to file a 1099-MISC, you should consult with a tax professional.
10 Related Question Answers Found
As a freelancer, you’re responsible for paying your own taxes. This means that you need to track the money you’ve earned and set aside money for tax time. But what happens when you get paid by a company?
As a freelancer, you’re responsible for paying your own taxes. You don’t receive a W-2 like traditional employees do because you’re considered an independent contractor. UpWork will provide you with a 1099-MISC if you earned $600 or more with us in a calendar year.
There are many different types of independent contractors out there. You may have heard of some of them, such as Uber drivers, Airbnb hosts, or Amazon delivery drivers. But there are many others who provide services through online platforms, such as UpWork.
According to the IRS, if you are an American worker and you are paid $600 or more by a company for services you provide, the company is required to send you a 1099 form by January 31 of the following year. The 1099 form is used to report your annual income, and it is also used to report any independent contractors that the company hired during the year. If you are hired by a company through UpWork, the company is required to send you a 1099 form if they pay you $600 or more.
The short answer is no, you will not receive a 1099 from UpWork. However, if you are paid in cryptocurrency, you may receive a 1099-K from the IRS. For more information, please see the following article:
What is a 1099-K and why do I need it
An important clarification to make is that, even if you do not receive a 1099-K from the IRS, you may still need to report your income and pay taxes on it.
As an employer, you’re required to provide a 1099-MISC form to any freelancer or contractor you pay $600 or more in a calendar year. You don’t have to provide a 1099-MISC to corporations or LLCs. If you use an online platform like Upwork to pay your freelancers, the platform will typically take care of issuing 1099s for you.
As a freelancer, you’re responsible for paying your own taxes. This means that you need to track the money you’ve earned and set some aside to pay the IRS come tax time. One way to do this is by requesting a 1099 form from the companies you’ve worked for during the year.
As an independent contractor, you’re responsible for paying your own taxes. This means that, come tax season, you’ll need to file a 1099 form for any freelancing work that you completed during the year. But what if you used a site like UpWork to find and complete your freelancing gigs?
As a freelancer, you are responsible for paying your own taxes. This means that you will need to file a 1099 form for any payments you receive from clients during the tax year. UpWork is a popular website that helps connect freelancers with clients.
UpWork does provide 1099 forms for those who are considered to be independent contractors. In order to be considered an independent contractor, you must meet certain criteria, including but not limited to:
You must be free from control or direction by the company for which you perform the work. You must perform the work independently and not as part of a team.
