If you make $600 or more through the app, Fluz is required by law to submit a 1099 tax form to the IRS for your account.
The cash back you get on your purchases is treated as a discount. However, all other money you earn from Fluz (challenges, bonuses, inviter cash back, network cash back) is 1099 income and will count towards that $600.
Towards the end of the year (2021), we will start collecting W9 forms and may require information such as SSN, address, and date of birth to issue you a 1099 at the end of the tax year.
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 dependents, etc. will mean that no exact blanket percentage can be given.
Fluz recommends meeting with your Certified Public Accountant to confirm that proper filings are in place for your individual situation. Fluz can not offer any type of personalized tax consulting.