How do I pay taxes after I receive my W-9 form?

[Ilove]

I recently received a W-9 tax form from an online company since I earned over $600 doing their surveys (the form I received: https://docs.google.com/file/d/0B-A3eMSk...YtOUE/edit ). I don't mind signing it and giving my social security to it and everything since it's through a secure medium (adobe echosign), but I am confused on what to do after I sign and receive my payments. I am currently receiving my payments via PayPal. How exactly am I supposed to pay taxes? What's the whole process? Do I pay every end of the year or something based off of how much I made? Answers to these questions would be greatly appreciated, as well as a detailed procedure as to what exactly I need to do once I receive my payments.

On a side note, the name registered on my PayPal account is not my full legal name and I just wanted to point that out since I don't want the answer to be off because of this one fact. Does this change anything? It shouldn't right, since PayPal operates via email address and that's what the company is using to pay me. Just putting that out there just so I can get a confirmation for that also.

So how does this whole process work after I receive the payment via PayPal?
Thanks for the input, but you guys aren't being specific. Tell me step by step what to do and how to file taxes, AND YOU GUYS ARE ESPECIALLY LEAVING OUT THE PART ON HOW I HAVE A PAYPAL ACCOUNT. How am I supposed to pay taxes if I just have money on a PayPal Account? Please help.
Also, I know absolutely nothing about taxes. Tell me what to do as if your teaching someone who doesn't know anything about something like playing video games how to play. I can't understand anything response I've gotten so far.

[Wayne Z]

You will file a 1040, Schedule C and Schedule SE after the end of the year.

If you are going to owe over $1000, you should be making quarterly estimates.

[Jss]

The online company will issue you form 1099 for amount paid to you. This is your business income. Report your business income and expenses on schedule C or C-EZ (Form 1040). Your net income is also subject to SE tax.

[Bobbie]

And your social security number will have to match your correct name that is also on your social card for this purpose when you do fill out your 1040 income tax return correctly during the 2013 tax filing season for this purpose and time in your life.
So make sure that you do fill out the W-9 form CORRECTLY and sign it and return it to the requester for this purpose.
Generally, e-business consists of business transactions conducted over open computer networks.
As a self employed independent contractor using the schedule C and the SE of the 1040 income tax return for this purpose and also you will have to use the 1040ES to make any quarterly estimated taxes that you might be required to make to pay yourself employment taxes social security and medicare taxes on your NET profit from the schedule C plus any federal income tax that you might owe for the tax year.
And even IF you do NOT receive the 1099-K copy you would still be required to use your good detailed daily records of all of your TOTAL sales and expense on your correctly completed income tax return for this purpose and if you would need to determine if it would be easier and better for you to make the quarterly estimated tax payments during the tax year or JUST wait until the end of the tax year and try and try and make sure that you do have enough funds saved up to pay the total amount of taxes plus the amount of interest and penalties that MIGHT be added to that owed amount for failing to pay the amount timely each quarter in the year as they should have been done at that time with the last for the 2012 tax year being due around January 15, 2013.
Hope that you find the above enclosed information useful. 09/19/2012

[tro]

the W-9 you received is asking for your personal information ie. name, address, and SSN
this is not the form from which you will file your Sch C, SE and 1040
at the end of the year, this company will send you a 1099, and you may have a business name on that as a result of your W-9 filing, but the SSN is yours which you will use on your 1040 and the name that coincides with your SS card