Hey Digital Point, this is my intro plus with a question, I'm a 16 year old teen who has been making little cash by joining CPT's, GPT's and PDD's. Well I joined Click?bank to actually make some big-time money--sometimes not always the case. I don't wan't to start promoting products just yet, because I don't know how payments are going to be handled. I need to enter SSN or Tax ID, probably going to use SSN. The thing is that I never had to deal with taxes and I'm afraid that if I had to report something to IRS then I would get in big trouble. I just need some basic inside knowledge on getting through the taxing process simpler. Also, you guys with experience is it the same process with other sites like GPTs and PDD(paid per download)? Note: Total noobie, if this is in the wrong section, sorry.
Do your parents use an accountant come tax time? I'm in Canada and am unsure about US tax law, but assume that you are supposed to claim any income above a certain threshold. I'd ask an accountant the best way to proceed. That way you can be comfortable moving forward.
Go talk to a CPA, they would know what you need to do. Tell them you were just messing around online and it somehow fell in your lap. If it's big time money, this is what I would do. If your talking pocket change, think of it as a gift from Uncle Sam.