Exciting news for the cute shark lovers of the world! We finally have a recorded sighting of a baby great white shark, likely only a few hours old.

RUE & JULES

That’s not the right IRS rule.

$599.99 is the amount below which a business does not need to issue a 1099 to a contractor who provides business services. The contractor still needs to report the income on their taxes.

The correct number for the IRS rule for money that is gifted rather than received in a business transaction is $13999.99–more than that, and the recipient has to pay tax on the gift and report it to the IRS. Less than that, and there’s no taxation or reporting requirement.

If we’re choosing amounts on the basis of IRS limits, give these people $13,999.99.