In an ironic turn of events, a man called David Wu is leading a campaign against Snapchat camgirls by reporting them to the IRS. The campaign is reporting these women to the IRS for not reporting premium Snapchat payments sent to them as income on their tax forms. This is done by people submitting form 3949-A to the IRS.
David Wu was kicked off of Twitch for speaking out against the twitch thots that have taken over the platform that was intended for gamers. But it seems David has now discovered a significant vulnerability in the e-thot industry.
The Snapchat e-thots have reacted hysterically by freaking out, giving credibility to the claim that they have indeed not been paying taxes on their premium snapchats. Freelance and 1099 income goes in Schedule C and is not counted as W2 income. You must report it if you earn as little as $400 in a year. And Paypal donations count as earnings.
By reporting Snapchat Thots to the IRS, people can receive up to 30% of the owed amount of unpaid taxes. This is called the whistleblower informer reward. This could be a significant amount, given the hysterical reaction from the camgirls that have already been reported.
There is now a financial incentive for reporting e-thots to the IRS.
And it's a very straightforward process.
An accountant on Twitter has dispelled some of the myths that have arisen in the aftermath of the ThotAudit campaign.
Indeed, it turns out premium Snapchat earnings are taxable and are not considered gifts. Many of the camgirl's earnings will not hold up to an audit.