PayPal and taxes

I have been doing freelance jobs, and I am wondering if I need to report my earnings on my taxes? I am in the USA, and as far as I know, I don't need to report it unless I receive over $650 from ONE PARTY. I have received over $650, but it has been from a mixture of clients. How exactly should I handle this?

 

I am ready for you guys this year. I only plan to type all that out once. Read it here.

 

Good article.

Also just to add, in the US payment processors are going to start reporting transaction amounts and volumes to the IRS starting next year. I believe that Paypal already started doing it last year. Also, you will not get a 1099 with Paypal because they are not a product or service, only a means of transferring money. You have to claim your earnings separately.

 

technically you have to but you're under the radar

 

I prefer to pay mine, not worry and sleep well.

 

Since you are in the USA you have to declare it, chances are paypal will hand this over to the IRS especially if your SSN is on file with them