If you make $600 or more through the app, either from your own cash back, the network reward payouts, or a combination of both; Fluz is required by law to submit a 1099 tax form to the IRS for your account.
Please note that we may need to collect additional documents from you to verify your identity at this time.
While Fluz will not withhold any earnings for tax purposes, the IRS will be receiving a copy of your 1099 at the end of the year, which will state exactly how much cash back you accrued for that tax season. You will be expected to pay a portion of that total reward amount to the IRS, along with your usual annual tax payments.
The exact percentage rate at which you will be taxed on your Fluz earnings will vary between individuals, and factors such as total household income, number of dependants, etc. will mean that no exact blanket percentage can be given.
Fluz recommends meeting with your Certified Public Accountant to confirm the proper filings are in place for your individual situation. Fluz can not offer any type of personalized tax consulting.