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Old 04-21-2010, 10:19 AM   #12
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Join Date: Dec 2009
Location: Minneapolis
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Re: Swagbucks and taxes

That is inaccurate. I'm not going to go into it further because I'm not qualified to give legal advice. I'm just basing my statements on the tax code itself and the things that my tax law professor has said in class.

I will leave it at this: according to the tax code, you must pay taxes on all income from any source derived (with a few exceptions, and I am 99% sure there is no exception for Swagbucks). You have to pay taxes on income, regardless of whether or not you have a 1099 form for that income. If you do not pay income tax on income (including Swagbucks) you are guilty of tax evasion. Whether you want to do the "loophole" dance is up to you, but be aware that (to my knowledge) there is no LEGAL "loophole" that allows you to NOT claim your Swagbucks income on your taxes.

Again: I'm just a tax law student, not a licensed tax lawyer!
At-home mom of DAK (Oct 2011) and #2 (Oct 2014)
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