YFDirect Now Requires W-9 Submission
zbalz
13-03-2006 11:26:07
New news for YFDirect, they require W-9's now (
I just got my certificates for EveryfreeGift today through manual email from their support staff. Below the links state
[quote7fbe98bf78]Print and mail the certificate(s) to the address listed on the certificate(s). Please allow 6-8 weeks from the time the certificate(s) are received at our gift center for processing and delivery. If you do not receive your gift in that time, please reply back and let us know.
Please be advised that we are required by law to notify the IRS regarding your gift. You will be required to submit a W9 form to us as part of the gift fulfillment process regardless of the value of the gift award. Please complete and sign your W9 form and return it to us as soon as possible so we can fulfill your gift within 6 to 8 weeks. Refer to www.irs.gov for any questions you have on the W9 requirements.[/quote7fbe98bf78]
This email came in TODAY. Note however that I received my manual approval link email from BIGWIN last Thursday and no such statement about W-9 requirements was made in the email or anywhere.
In both sites the TOS doesn't state anything about W-9 either. I called YFDirect to ask about it and they confirmed that they are now required and their terms just very recently changed. Bigwin received my certs on Sat 3/11 so I emailed them asking whether or not it is needed for that site after explaining the situation with EFG.
Hopefully I don't have to submit that W-9 for BigWin. Would be kind of strange to be 'grandfathered' into Bigwin and not EFG. I will keep everyone posted as to my status update.
And anyone else, please give any relavent updates to this matter.
Anyone know how hard these W-9 taxes will hit me on a $1000 check (or plasma) next year?
williebeamin2000
13-03-2006 11:31:15
Well it matters if YFD submits the info to the IRS as a gift/ prize or if they require you to report it as self income, all i know is that the self income tax is like 15% and that the gift/ prize income is less than that but I am not sure how much less, i think less than 10% but someone correct me if I am wrong. Anyway that totally sucks that YFD now requires W-9
dmorris68
13-03-2006 11:32:38
It was only a matter of time. They are bound by law to do it and could get shutdown or seriously fined if they persisted in not doing it. Also, those that didn't claim their prizes before are still liable under the tax law and could (unlikely, but conceivably) get dinged for it if caught up in an audit. The individual is ultimately repsonsible for reporting anything that is taxable, regardless of whether the company correctly W9's or 1099's you.
Can't really blame YFDirect here, we need some damn tax reform is what we need.
How much taxes you pay depends on your tax bracket. It just gets added as income to your AGI.
I saw that about the 15% for self-employment in another thread, and I don't know where they get that from. I've claimed self-employment income from consulting work off and on for years, and it doesn't work that way. I think they're confusing the OASDI (SS) tax. When you work for an employer, they pay 7.5% of your SS tax, and you pay 7.5%. When you're self-employed, you pay the whole 15%. But that's in addition to your income tax (FICA and State) which is based upon your gross income. The self-employment income is added to your gross income just like any other income, and is taxed based upon your AGI tax bracket -- there is no "fixed" tax amount for SE income. So people saying you'll pay 15% tax on self-employment income are incorrect, or at best only partically correct.
williebeamin2000
13-03-2006 11:35:36
Yeah thats really true, i know they could get in trouble, why dont they just move to canada so that they dont have to report anything to the IRS, kinda like pokerroom.com. that would be cool. But no im not blaming them i am just saying it sucks that they have to do it now
Brutus
13-03-2006 11:43:59
What dmorris68 said is correct. When you see people saying that you pay 15% SE tax, that tax is the SS and Medicare portion of the tax you pay. You will also have to include the amount that you get in your gross pay which will then be subject to state and fed tax at your tax level.
stackmjwiz
13-03-2006 11:57:00
I'm 18, unemployed, and a student.
Would I need to pay taxes for large gifts like the Vespa ($3000)? And if so, about how much?
williebeamin2000
13-03-2006 12:06:56
if you are 18 i think you could prolly do the math right?
dmorris68
13-03-2006 12:07:21
[quote36890f3876="stackmjwiz"]I'm 18, unemployed, and a student.
Would I need to pay taxes for large gifts like the Vespa ($3000)? And if so, about how much?[/quote36890f3876]
Of course I'm not a tax attorney, so don't construe this as legal advice, but if you're an unemployed student, and don't have enough reportable income to file a tax return, I doubt you'll pay anything. You may have to file a return, especially if the prize is reported as self-employment income (anything over $400 SE requires a return), but it's doubtful you'd have any tax liability other than perhaps the 15% SS tax.
I just don't buy this self-employed tax thing on free gifts. Has anybody ever been 1099'ed by these sites as self-employed? It makes no sense, because there is no employment relationship. The IRS allows for such things via the gift/winnings part of the tax law. It just doesn't fly that it would be reported as SE to me, and if enough people complained to the IRS about it, maybe we'd be able to dispute it.
williebeamin2000
13-03-2006 12:09:14
Ideal sends out 1099's
dmorris68
13-03-2006 12:12:43
[quotebe39721062="williebeamin2000"]Ideal sends out 1099's[/quotebe39721062]
I know, but do they actually claim the gift amount as self-employed income? Has anybody confirmed that?
williebeamin2000
13-03-2006 12:14:08
yess people on scam.com have confirmed it.
ragefu
13-03-2006 12:15:04
Wow this will suck ass for bigwin
williebeamin2000
13-03-2006 12:20:06
it wont be that bad, just sell your free gift and you will have tons of money and only have to pay some in taxes, dont whine we are still getting a bunch of stuff for almost nothing.
icojones
13-03-2006 12:33:13
[quote99dd6f7f07="williebeamin2000"]Well it matters if YFD submits the info to the IRS as a gift/ prize or if they require you to report it as self income, all i know is that the self income tax is like 15% and that the gift/ prize income is less than that but I am not sure how much less, i think less than 10% but someone correct me if I am wrong. Anyway that totally sucks that YFD now requires W-9[/quote99dd6f7f07]
This is not right -- you should be careful when offering tax advice if you are not sure.
Regardless of whether income is gift income or self-employed income you will pay your marginal tax rate on it. If you are single and make less than $29,000 that will be 15%. If you make more than 29, but less than 72, that rate will be 28%.
If it is classified as self-employment income, you will pay an ADDITIONAL 15%. That 15% includes you Social Security tax, the employer SS tax and medicare. If you make more than $90k, you only pay the medicare, which is about 3%.
williebeamin2000
13-03-2006 12:40:36
I took that info from another ideal thread, so Iwas only transfering the info and I also said i wasnt sure
zbalz
13-03-2006 12:58:23
[quote80fa9740e5="icojones"][quote80fa9740e5="williebeamin2000"]Well it matters if YFD submits the info to the IRS as a gift/ prize or if they require you to report it as self income, all i know is that the self income tax is like 15% and that the gift/ prize income is less than that but I am not sure how much less, i think less than 10% but someone correct me if I am wrong. Anyway that totally sucks that YFD now requires W-9[/quote80fa9740e5]
This is not right -- you should be careful when offering tax advice if you are not sure.
Regardless of whether income is gift income or self-employed income you will pay your marginal tax rate on it. If you are single and make less than $29,000 that will be 15%. If you make more than 29, but less than 72, that rate will be 28%.
If it is classified as self-employment income, you will pay an ADDITIONAL 15%. That 15% includes you Social Security tax, the employer SS tax and medicare. If you make more than $90k, you only pay the medicare, which is about 3%.[/quote80fa9740e5]
Wow..well lets see then.
$1000 giftcard + $1000 check (instead of plasma) + $1000 laptop, 28% of that = $840 I will owe uncle sam from these gifts...if/when I get them
Reeealllly sucks but still not bad for $3k in free gifts (plus many others under the $600 threshold..although I will probably report them too)
Wolfeman
13-03-2006 13:11:22
Are they making people send in W-9s if they've already sent their vouchers in?
idrinklisterine
13-03-2006 13:11:51
I was looking up tax brackets and found this chart which seems to have most of the info
http//www.fairmark.com/refrence/index.htm
The only thing I'm confused about is what it takes to claim the standard deduction. If you're unemployed and get less than the standard deduction in gifts, then would the taxes owed be zero?
dmorris68
13-03-2006 13:22:56
[quote443e5767bd="idrinklisterine"]I was looking up tax brackets and found this chart which seems to have most of the info
http//www.fairmark.com/refrence/index.htm
The only thing I'm confused about is what it takes to claim the standard deduction. If you're unemployed and get less than the standard deduction in gifts, then would the taxes owed be zero?[/quote443e5767bd]
As far as federal and state income tax, then yes -- if your standard deduction is more than your total income, then your [b443e5767bd]income[/b443e5767bd] tax liability would be zero. You still have to file a return most likely, especially if the gift is reported as self-employment income. However if it is reported as SE income, you will still have to pay the 15%, as SS & Medicare has no minimum income amount that I know of. All income is taxable for that 15%, up until the cap, which for last year was $90K. The cap typically rises a few thousand every year.
zbalz
13-03-2006 13:29:23
[quoted0670d1977="Wolfeman"]Are they making people send in W-9s if they've already sent their vouchers in?[/quoted0670d1977]
I am looking into that right now, as I am in BOTH situations. I had to turn in the EFG certs with a W-9 because I was sent the approval link email today. But they already received my certs for Bigwin on Saturday, with no mention of W-9 forms.
I emailed them this morning and am still awaiting a response. I will call in an hour or two if they do not respond. I would think that you wouldn't have to send in the W-9 if they already processed your certs. But adding that extra requirement buys them more time for EVERY customer awaiting their gift, which is always good for them, so they may require it. )
I will get back with a response when they reply.
Wolfeman
13-03-2006 13:30:13
Cool, thanks...
icojones
13-03-2006 13:32:37
Another thing to remember is that YF sending you the 1099 does not create the tax liability -- it was always there and we were breaking the law by not reporting it.
Admin
13-03-2006 13:37:35
I got a 1099 from Nuitech for my iBook at $999. It's reported on line 7 (Nonemployee compensation).
One thing to keep in mind is that you're allowed to adjust the value of the item down to fair market value if you can substanciate your claim. I printed a copy of the PayPal receipt for the sale of the iBook on ebay for $859 and took a $-141 adjustment on my income. Every little bit helps...
Wolfeman
13-03-2006 13:42:11
[quotebeec7519ba="Admin"]I got a 1099 from Nuitech for my iBook at $999. It's reported on line 7 (Nonemployee compensation).
One thing to keep in mind is that you're allowed to adjust the value of the item down to fair market value if you can substanciate your claim. I printed a copy of the PayPal receipt for the sale of the iBook on ebay for $859 and took a $-141 adjustment on my income. Every little bit helps...[/quotebeec7519ba]
Exactly. Just because they claim it as $2500 for the plasma the FMV is only $1500 and thats what you have to claim...
dmorris68
13-03-2006 13:51:49
[quotec9dfbc6472="Admin"]I got a 1099 from Nuitech for my iBook at $999. It's reported on line 7 (Nonemployee compensation).[/quotec9dfbc6472]
Well, line 7 is not necessarily SE income. If it is SE income, you are expected to claim it as such, and if not, it's just regular income. I would think that gifts should really go in Line 3, but there is enough leeway in Line 7 that I think you can get away with not claiming it as SE (which it isn't).
From the 1099-MISC instructions
[quotec9dfbc6472]Box 7. Shows nonemployee compensation. If you are in the trade or business of catching fish, box 7 may show cash you received for the sale of fish. [bc9dfbc6472]If payments in this box are SE income,[/bc9dfbc6472] report this amount on Schedule C, C-EZ, or F (Form 1040), and complete Schedule SE (Form 1040). You received this form instead of Form W-2 because the payer did not consider you an employee and did not withhold income tax or social security and Medicare taxes. Contact the payer if you believe this form is incorrect or has been issued in error. If you believe you are an employee, report this amount on line 7 of Form 1040 and call the IRS for information on how to report any social security and Medicare taxes.[/quotec9dfbc6472]
Again, don't take legal tax advice from me, but this is the way I read the law and the way I will apply it myself... should I ever get a TV out of these people. roll
zbalz
13-03-2006 14:13:21
UPDATE
I got impatient and decided to just call them. So I was told that this new policy of requiring W-9's took effect at the beginning of March. Since I sent in my certificates for Bigwin before they requested them, I was told the W-9 is not needed. But for Everyfreegift, since it is requested in the email, the W-9 is needed.
Also, they have not received my certs yet for Bigwin. The certificates arrived at their PO box on saturday but they haven't processed them yet since it is only Monday.
Therefore, the current verdict is
If the approval link email doesn't mention W-2's then you should be ok...even if they haven't yet processed them. So for all you that sent certs in and are being processed, you're good. For all those who will be approved anytime after today, W-2's are required with your certificates when mailing in.
Customer Support did mention that they may decide to request W-2's from everyone who already sent their certs in and in the waiting period. If that is the case, YFD will send a letter to your residence requesting a W-9, and it will not delay your waiting time. But that is worst case scenario I assume.
nick_e
13-03-2006 14:16:51
True dat. Personally I don't mind paying a little taxs on these gifts unless your planning on reselling them the price is right.
I don't like SS it's bound to collaps either that or the government will inflate the currency (more likally) either way we will get little or nothing for what were putting in now (unless your going to be applying in the next year)
zainali
13-03-2006 17:07:56
yfdirect has been too nice for too long. for them to survive they had to do this.
killerman
14-03-2006 23:37:23
u think u would need a w9 for the $1k giftcard too?
this tihng is really pissing me off beacuse i dont work here and dont have a ssn but o do live here
Wolfeman
14-03-2006 23:43:20
Yeah you are going to need a W-9 for anything above $600...
bigchan2k
14-03-2006 23:43:56
You would need a W9 for anything over $600.
So to answer your question, yeah, you would need one.
mr sparky
15-03-2006 00:00:44
They are giving me a W9 for GadgetCity Xbox 360, which is <$600... the email they sent me said they require a W9 for gifts of "any value"
Wolfeman
15-03-2006 00:01:57
[quotee67a9d209e="mr sparky"]They are giving me a W9 for GadgetCity Xbox 360, which is <$600... the email they send me said they require a W9 for gifts of "any value"[/quotee67a9d209e]
Thats really lame shrug
icojones
15-03-2006 05:02:14
Just because they ask for it doesn't mean they will file it with the IRS -- I think they are using this as a way to weed out people who used fake names.
Very unlikely that they would fill out a 1099 for less than $600. Its a waste of their time.
BobMakihara
15-03-2006 07:59:34
[quote865258cd96="icojones"]Just because they ask for it doesn't mean they will file it with the IRS -- I think they are using this as a way to weed out people who used fake names.[/quote865258cd96]
Wow, I never thought of that. That most likely [i865258cd96]is[/i865258cd96] the main reason.
Now it'll be harder for the "extreme freebists" to sign up through friends or other addresses.
RolltheStampede
15-03-2006 08:23:30
Did anyone see that movie Shawshank Redemption when they have andy ont the roff and they were about to throw him off the roof and he said if you want to keep all the money give it to your wife. The IRS allows a one time tax free gift to you wife of up to like 2-3000 dollars.
Is any of that true. When these big gifts come in can we give one of them like say a vespa scooter to ur significnt other and not pay the taxes on it.
Just a thought
UniPrize Media
15-03-2006 08:25:06
[quote7586c601f6="icojones"]Just because they ask for it doesn't mean they will file it with the IRS -- I think they are using this as a way to weed out people who used fake names.
Very unlikely that they would fill out a 1099 for less than $600. Its a waste of their time.[/quote7586c601f6]
Thats a smart move on their side. They are tired of people abusing their system.
zbalz
15-03-2006 08:43:04
[quote5d6a90831c="RolltheStampede"]Did anyone see that movie Shawshank Redemption when they have andy ont the roff and they were about to throw him off the roof and he said if you want to keep all the money give it to your wife. The IRS allows a one time tax free gift to you wife of up to like 2-3000 dollars.
Is any of that true. When these big gifts come in can we give one of them like say a vespa scooter to ur significnt other and not pay the taxes on it.
Just a thought[/quote5d6a90831c]
Yes. That EXACT statement, and everything else ever said from any other movie is entirely true. And all of the internet is true as well, so be sure to believe this thread as well as it is part of the internet.
This is a DIY site forum, not a forum for tax evasion tips. If you want tax advice, try H&R Block (
http//www.hrblock.com/[]http//www.hrblock.com/). As said SO MANY times on this forum, why would you trust tax advice from strangers on a freebie info site? And why cheat the IRS? Whats a $750 'free' gift rather than $1000 isn't much to complain about. Even those bastards on wheel of fortune have to pay a few grand in taxes when they get a free corvette at the end of the show.
If you get handed a 1099 or W-9 next January, deal with it. If not, it is up to you whether you want to lie to the IRS on your gifts. End of story.
killerman
15-03-2006 10:47:17
should should i do if i have no SSN? i have a right to do the site though because i am a resident of the US and live here, that alwasy is my prob
icojones
15-03-2006 12:06:41
[quote90e90db7f0="killerman"]should should i do if i have no SSN? i have a right to do the site though because i am a resident of the US and live here, that alwasy is my prob[/quote90e90db7f0]
Well, you need to get a SSN. Have you never earned a penny on the books in your life?
Wolfeman
15-03-2006 12:08:13
[quote6b93336cde="icojones"][quote6b93336cde="killerman"]should should i do if i have no SSN? i have a right to do the site though because i am a resident of the US and live here, that alwasy is my prob[/quote6b93336cde]
Well, you need to get a SSN. Have you never earned a penny on the books in your life?[/quote6b93336cde]
If he isn't an American citizen he wouldn't have one. Not sure how it works for him...
RolltheStampede
15-03-2006 12:15:51
[quotec971e81c7e="zbalz"][quotec971e81c7e="RolltheStampede"]Did anyone see that movie Shawshank Redemption when they have andy ont the roff and they were about to throw him off the roof and he said if you want to keep all the money give it to your wife. The IRS allows a one time tax free gift to you wife of up to like 2-3000 dollars.
Is any of that true. When these big gifts come in can we give one of them like say a vespa scooter to ur significnt other and not pay the taxes on it.
Just a thought[/quotec971e81c7e]
Yes. That EXACT statement, and everything else ever said from any other movie is entirely true. And all of the internet is true as well, so be sure to believe this thread as well as it is part of the internet.
This is a DIY site forum, not a forum for tax evasion tips. If you want tax advice, try H&R Block (
http//www.hrblock.com/[]http//www.hrblock.com/). As said SO MANY times on this forum, why would you trust tax advice from strangers on a freebie info site? And why cheat the IRS? Whats a $750 'free' gift rather than $1000 isn't much to complain about. Even those bastards on wheel of fortune have to pay a few grand in taxes when they get a free corvette at the end of the show.
If you get handed a 1099 or W-9 next January, deal with it. If not, it is up to you whether you want to lie to the IRS on your gifts. End of story.[/quotec971e81c7e]
What the heck is your problem guy. I was just wondering. And who is complaining. Just because i saw it in a movie doesnt mean its not true. And how is it cheating the IRS if it something that they allow. I dont know if its true or not, but that no reason to be all sarcastic and get an attitude. What the hell bug crawled up your ass.
killerman
15-03-2006 12:36:18
[quote2feba67aab="icojones"][quote2feba67aab="killerman"]should should i do if i have no SSN? i have a right to do the site though because i am a resident of the US and live here, that alwasy is my prob[/quote2feba67aab]
Well, you need to get a SSN. Have you never earned a penny on the books in your life?[/quote2feba67aab]
nah, i just take all the american's jobs and put a drain on the economy, you know, like all immigrants that you hate.
RolltheStampede
15-03-2006 13:46:42
i believe the form say social security or tax payer id.
If you pay taxes you should have a tax payer id. You can put that on the W-9
nick_e
21-03-2006 12:49:31
at what point in the process do they ask for the W-9, before or after sending in the certificates? Also do they send you one or just call you up and ask for it I've never done a gift that needed a W-9 but it seems my visa will.
zbalz
21-03-2006 14:05:41
[quoted9c5fa2208="nick_e"]at what point in the process do they ask for the W-9, before or after sending in the certificates? Also do they send you one or just call you up and ask for it I've never done a gift that needed a W-9 but it seems my visa will.[/quoted9c5fa2208]
When you request the certificate by clicking the approval link (after offer is approved obviously), it is supposed to send you an automated email. Most of the time the email never comes so you have to contact YFD support (email or phone) and request them to email the certificate links to you manually.
INSIDE that manual link email, there is a paragraph stating that the W-9 forms are needed.
So...before you send in the certificates is when you are told.
Gigante
21-03-2006 17:27:59
If you aren't an American Citizen, you should still have a Tax ID #...
dmorris68
21-03-2006 17:31:37
You don't even need to be a citizen to have an SSN -- if you're a legal resident (i.e. have a green card) then you also get an SSN. If you're not a resident but are here on a visa that allows you to work, then you can get at least a taxpayer ID#, as was mentioned. But if you're here on a student visa or other visitation visa that doesn't allow work, or of course if you're here illegally, then you're screwed as far as these offers go.
chillywilly
22-03-2006 12:33:49
[quotea3277ec06e="zbalz"][quotea3277ec06e="nick_e"]at what point in the process do they ask for the W-9, before or after sending in the certificates? Also do they send you one or just call you up and ask for it I've never done a gift that needed a W-9 but it seems my visa will.[/quotea3277ec06e]
When you request the certificate by clicking the approval link (after offer is approved obviously), it is supposed to send you an automated email. Most of the time the email never comes so you have to contact YFD support (email or phone) and request them to email the certificate links to you manually.
INSIDE that manual link email, there is a paragraph stating that the W-9 forms are needed.
So...before you send in the certificates is when you are told.[/quotea3277ec06e]
I'm wondering if they are going to do this for all prizes and sites or just for ones that are above $600. Or if it's under $600, they may have you fill it out regardless on the assumption you are going to get more than $600 from them over the course of doing "business" with them.
paulleywaulley
22-03-2006 14:03:33
So the now closed down offergift.com site is requiring the W-9 as well for an iPod
[ifd10aa5652]Thank you for contacting us about OfferGift.com.
As of January 2006, OfferGift.com is no longer a working website.
Please be advised that we are required by law to notify the IRS regarding your gift. You will be required to submit a W9 form to us as part of the gift fulfillment process regardless of the value of the gift award. Please complete and sign your W9 form and return it to us as soon as possible so we can fulfill your gift within 6 to 8 weeks. Refer to www.irs.gov for any questions you have on the W9 requirements.
Thank you,
Tang
Offergift.com Support[/ifd10aa5652]
amir89630
22-03-2006 19:08:03
what do u do if ur 16, will u just receive the shaft.
tjwor
22-03-2006 19:54:41
[quote79bebf61e8="amir89630"]what do u do if ur 16, will u just receive the shaft.[/quote79bebf61e8]
I wouldn't call it the shaft since you know it was against the rules, but you won't get anything...
TheWorkGuy
22-03-2006 20:22:01
[quote5465546644="stackmjwiz"]I'm 18, unemployed, and a student.
Would I need to pay taxes for large gifts like the Vespa ($3000)? And if so, about how much?[/quote5465546644]
I am in a simular sisuation, and the IRS told me that i do have to report it, but i think if it was under $5000 i would not have to pay taxes on it!
TWG
[quote5465546644="dmorris68"]
Of course I'm not a tax attorney, so don't construe this as legal advice, but if you're an unemployed student, and don't have enough reportable income to file a tax return, I doubt you'll pay anything. You may have to file a return, especially if the prize is reported as self-employment income (anything over $400 SE requires a return), but it's doubtful you'd have any tax liability other than perhaps the 15% SS tax.
I just don't buy this self-employed tax thing on free gifts. Has anybody ever been 1099'ed by these sites as self-employed? It makes no sense, because there is no employment relationship. The IRS allows for such things via the gift/winnings part of the tax law. It just doesn't fly that it would be reported as SE to me, and if enough people complained to the IRS about it, maybe we'd be able to dispute it.[/quote5465546644]
IRS told me to fill it as "other income" whatever that means...
TWG
nick_e
22-03-2006 20:47:10
The catch is that you have to sign it as a minor so if you aren't 18 you parents have to sign it as well then YFdirect knows you aren't 18 and will probubly DQ you... It makes sense although they may not check the things.
TheWorkGuy
22-03-2006 20:49:50
[quote73f8d0c912="tjwor"][quote73f8d0c912="amir89630"]what do u do if ur 16, will u just receive the shaft.[/quote73f8d0c912]
I wouldn't call it the shaft since you know it was against the rules, but you won't get anything...[/quote73f8d0c912]
Why do you say that?
The W-9 form can be filled by a minor, and there is no age box to fill out, so its not frauding the IRS, it is frauding YF Direct, but how are they going to find out?
TWG
dmorris68
22-03-2006 20:52:11
[quotea5bfcd82d2="TheWorkGuy"][quotea5bfcd82d2="dmorris68"]I'm 18, unemployed, and a student.
Would I need to pay taxes for large gifts like the Vespa ($3000)? And if so, about how much?[/quotea5bfcd82d2]
I am in a simular sisuation, and the IRS told me that i do have to report it, but i think if it was under $5000 i would not have to pay taxes on it!
TWG
[quotea5bfcd82d2="stackmjwiz"]
Of course I'm not a tax attorney, so don't construe this as legal advice, but if you're an unemployed student, and don't have enough reportable income to file a tax return, I doubt you'll pay anything. You may have to file a return, especially if the prize is reported as self-employment income (anything over $400 SE requires a return), but it's doubtful you'd have any tax liability other than perhaps the 15% SS tax.
I just don't buy this self-employed tax thing on free gifts. Has anybody ever been 1099'ed by these sites as self-employed? It makes no sense, because there is no employment relationship. The IRS allows for such things via the gift/winnings part of the tax law. It just doesn't fly that it would be reported as SE to me, and if enough people complained to the IRS about it, maybe we'd be able to dispute it.[/quotea5bfcd82d2]
IRS told me to fill it as "other income" whatever that means...
TWG[/quotea5bfcd82d2]
Dude, you confused the heck outta me there for a second. You got the names on the quotes backwards. )
I have children over 18, so it would be kinda hard for me to be 18. lol
TheWorkGuy
22-03-2006 21:00:07
[quote8a50ea87d9="dmorris68"][quote8a50ea87d9="TheWorkGuy"][quote8a50ea87d9="dmorris68"]I'm 18, unemployed, and a student.
Would I need to pay taxes for large gifts like the Vespa ($3000)? And if so, about how much?[/quote8a50ea87d9]
I am in a simular sisuation, and the IRS told me that i do have to report it, but i think if it was under $5000 i would not have to pay taxes on it!
TWG
[quote8a50ea87d9="stackmjwiz"]
Of course I'm not a tax attorney, so don't construe this as legal advice, but if you're an unemployed student, and don't have enough reportable income to file a tax return, I doubt you'll pay anything. You may have to file a return, especially if the prize is reported as self-employment income (anything over $400 SE requires a return), but it's doubtful you'd have any tax liability other than perhaps the 15% SS tax.
I just don't buy this self-employed tax thing on free gifts. Has anybody ever been 1099'ed by these sites as self-employed? It makes no sense, because there is no employment relationship. The IRS allows for such things via the gift/winnings part of the tax law. It just doesn't fly that it would be reported as SE to me, and if enough people complained to the IRS about it, maybe we'd be able to dispute it.[/quote8a50ea87d9]
IRS told me to fill it as "other income" whatever that means...
TWG[/quote8a50ea87d9]
Dude, you confused the heck outta me there for a second. You got the names on the quotes backwards. )
I have children over 18, so it would be kinda hard for me to be 18. lol[/quote8a50ea87d9]
haha, my bad! I fixed it now...
EasyAs456
22-03-2006 21:48:14
[quotebf3f7f346d="killerman"]should should i do if i have no SSN? i have a right to do the site though because i am a resident of the US and live here, that alwasy is my prob[/quotebf3f7f346d]
Every single person has a SSN it's impossible for you not to have one. Unless your an illegal person living in the US. Every person that comes to the United States from a different country has a SSN - If you are a Permanent resident of the US you have one. Ask your parents if you aren't old enough or find it from somewhere.
madmanx33
24-03-2006 12:22:06
Hello
I have a questioin for ya'll
I was confirmed for a site but the problem Is i was having it sent to my cousin who is a minor. I received the voucher claiming links a few days ago. Can I use someone elses name and address to ship it to and have them fill out th w9 since they will not be minors?
RolltheStampede
24-03-2006 18:12:56
are you a minor too. why not have it shipped to your house, or you friends house in your name. SOunds like you are just trying to get over.
dmorris68
24-03-2006 18:29:44
[quote5a6ac9eeb8="EasyAs456"]Every single person has a SSN it's impossible for you not to have one. Unless your an illegal person living in the US. Every person that comes to the United States from a different country has a SSN - If you are a Permanent resident of the US you have one. Ask your parents if you aren't old enough or find it from somewhere.[/quote5a6ac9eeb8]
Ummm.... no.
It's not like they issue you a SSN at birth or when you emigrate. You (or your parents) must apply for your SSN. There is no law that requires an SSN, and there is nothing automatic about it. Granted it's getting harder and harder to get by without one -- you can no longer be claimed as a dependant for tax deduction, can't work, and can't receive some (but not all) government assistance without one. Not to mention get credit, among other things. But you can register for and attend public school, for example. Lots of people don't have SSN's.
userz
27-03-2006 13:53:46
Hey guys. I submitted my certs during the beginning of march for the plasma and computer. I got my $1k check a couple days ago P and a letter requesting a submitted w9 form today (.
nick_e
27-03-2006 14:24:45
[quote3d0e4654d6="EasyAs456"][quote3d0e4654d6="killerman"]should should i do if i have no SSN? i have a right to do the site though because i am a resident of the US and live here, that alwasy is my prob[/quote3d0e4654d6]
Every single person has a SSN it's impossible for you not to have one. Unless your an illegal person living in the US. Every person that comes to the United States from a different country has a SSN - If you are a Permanent resident of the US you have one. Ask your parents if you aren't old enough or find it from somewhere.[/quote3d0e4654d6]
Acctually I'm pretty sure the native americans don't have a SSN.
RolltheStampede
27-03-2006 15:07:09
does that mean they dont pay taxes, if they pay taxes they have a tax id and that can be placed on th eW-9 Also
zbalz
27-03-2006 16:04:40
Back to the real topic here..instead of SSN arguments...
I just got a letter in the mail from NetBlue requesting a W9 for my BigWin completion about 3 weeks ago. So for BOTH Bigwin and Everyfreegift (And also now IOG) a W9 is required. The letter assures me my scheduled ship date will not be changed for BigWin if my W9 is sent in time.
...Just another update... )
tylerc
27-03-2006 17:23:55
I printed one off and filled it out and sent it in with my vouchers, but I just got one in the mail today.
I tried calling but got tired of waiting, do you think I still need to fill this one out? I already sent one in.
zbalz
27-03-2006 18:25:27
[quote12fa59dcd6="tylerc"]I printed one off and filled it out and sent it in with my vouchers, but I just got one in the mail today.
I tried calling but got tired of waiting, do you think I still need to fill this one out? I already sent one in.[/quote12fa59dcd6]
No. How did you ship it? Regular first-clasS? priority? delivery confirmation?
If you shipped with delivery confirmation, wait till about 2 days after it has been delivered, and then call to confirm receipt. If shipped first-class, wait two weeks after you sent it and then call.
They only need one copy.
parker.brian22
28-03-2006 17:58:49
[quote671db9a351="TheWorkGuy"][quote671db9a351="tjwor"][quote671db9a351="amir89630"]what do u do if ur 16, will u just receive the shaft.[/quote671db9a351]
I wouldn't call it the shaft since you know it was against the rules, but you won't get anything...[/quote671db9a351]
Why do you say that?
The W-9 form can be filled by a minor, and there is no age box to fill out, so its not frauding the IRS, it is frauding YF Direct, but how are they going to find out?
TWG[/quote671db9a351]
So what is on the W-9 form that you need to fill out. What info do you fill out other than name, address, SNN?
Also do you send in the W-9 at the same time that you send in the certificates? I have 5 of my 6 certificates for my iBook right now and am waiting for manual credit on the last one. Where can I find the W-9 form or a sample form or something of the sort?
Thanks
dmorris68
28-03-2006 18:16:12
It's just a request for TID/SSN
http//www.irs.gov/pub/irs-pdf/fw9.pdf
That's the official form from the IRS. You can fill it out from the PDF and send it if you want.
TheWorkGuy
29-03-2006 00:04:09
[quote0126dfa336="parker.brian22"][quote0126dfa336="TheWorkGuy"][quote0126dfa336="tjwor"][quote0126dfa336="amir89630"]what do u do if ur 16, will u just receive the shaft.[/quote0126dfa336]
I wouldn't call it the shaft since you know it was against the rules, but you won't get anything...[/quote0126dfa336]
Why do you say that?
The W-9 form can be filled by a minor, and there is no age box to fill out, so its not frauding the IRS, it is frauding YF Direct, but how are they going to find out?
TWG[/quote0126dfa336]
So what is on the W-9 form that you need to fill out. What info do you fill out other than name, address, SNN?
Also do you send in the W-9 at the same time that you send in the certificates? I have 5 of my 6 certificates for my iBook right now and am waiting for manual credit on the last one. Where can I find the W-9 form or a sample form or something of the sort?
Thanks[/quote0126dfa336]
Yeah, thathink that's all you need, and dmorris68 posted the link, YF Direct/NetBlue might also snail-mail you their form, which is exactly the same, except it has their name and address under it, which you can add when you fillout the form online.
"Netblue, Inc.
PO Box 390520
Mountain View, CA 94039-0520"
You just need to mail the first page, and I would mail it with insurance and delivery confirmation, maybe even "signed delivery"...?
TWG
[quote0126dfa336="dmorris68"]It's just a request for TID/SSN
http//www.irs.gov/pub/irs-pdf/fw9.pdf
That's the official form from the IRS. You can fill it out from the PDF and send it if you want.[/quote0126dfa336]
RolltheStampede
29-03-2006 05:59:58
signed delivery just slows you down cause they have to wait for it to be signed the confirmation just shows you that they got it
kangol1223
29-03-2006 13:14:56
Where do you add their name on the form?
Also do you need to fill it out and send it with your certificates?
tylerc
29-03-2006 17:24:33
Are they requiring this for ALL gifts? I just got a W-9 form in the mail the other day but I think it's for EFG ($1000 Visa) because my IOG gift is a $250 Best Buy card.
Also, the e-mail from IOG with my links didn't say anything about a W-9, but the EFG e-mail did.
NYCGrrl73
29-03-2006 17:39:48
YF is asking for W-9s--even for gifts [bbbb161061f]under[/bbbb161061f] $600!
[quotebbb161061f="tylerc"]Are they requiring this for ALL gifts? I just got a W-9 form in the mail the other day but I think it's for EFG ($1000 Visa) because my IOG gift is a $250 Best Buy card.
Also, the e-mail from IOG with my links didn't say anything about a W-9, but the EFG e-mail did.[/quotebbb161061f]
kangol1223
29-03-2006 17:50:32
When you request manual credit on an offer, how long does it normally take to be approved?
I did 7 offers for my iBook instead of the 6 required thinking that if 1 didn't go through I would have a backup, but 2 never went to "in progress".
I printed out the other 5 certificates and am waiting on 1 more to be approved. I called MSG today and they said they sent in my info to the companies today. I am waiting on credit on "Net Market" and "Complete Home". Has anyone else had trouble with these offers? How long did they take to be approved?
Thanks
TheWorkGuy
29-03-2006 18:30:13
[quotea77eb0153e="kangol1223"]Where do you add their name on the form?
Also do you need to fill it out and send it with your certificates?[/quotea77eb0153e]
If you actually look at it....under "requester's name and address (optional)"
TWG
TheWorkGuy
29-03-2006 18:42:48
[quote77deb505f1="kangol1223"]When you request manual credit on an offer, how long does it normally take to be approved?
I did 7 offers for my iBook instead of the 6 required thinking that if 1 didn't go through I would have a backup, but 2 never went to "in progress".
I printed out the other 5 certificates and am waiting on 1 more to be approved. I called MSG today and they said they sent in my info to the companies today. I am waiting on credit on "Net Market" and "Complete Home". Has anyone else had trouble with these offers? How long did they take to be approved?
Thanks[/quote77deb505f1]
Those ones took about 1-2 weeks to go "In Progress" for me, and my friend, and manual credits take a few weeks now!
TWG
kangol1223
29-03-2006 18:50:21
[quote9a1f2ecff3="TheWorkGuy"][quote9a1f2ecff3="kangol1223"]When you request manual credit on an offer, how long does it normally take to be approved?
I did 7 offers for my iBook instead of the 6 required thinking that if 1 didn't go through I would have a backup, but 2 never went to "in progress".
I printed out the other 5 certificates and am waiting on 1 more to be approved. I called MSG today and they said they sent in my info to the companies today. I am waiting on credit on "Net Market" and "Complete Home". Has anyone else had trouble with these offers? How long did they take to be approved?
Thanks[/quote9a1f2ecff3]
Those ones took about 1-2 weeks to go "In Progress" for me, and my friend, and manual credits take a few weeks now!
TWG[/quote9a1f2ecff3]
Yea, they told me it would take 1 to 3 weeks when I called, but people had told me before that it took about 2 days for manual credit. As long as I get my iBook I will be happy. I need a good computer that I can rely on.
Once you send in all the certificates and the W-9 how long does it normally take untill they ship out the gift? On the site it says 6 to 8 weeks. How long has it taken for all of you from the time they recieved everything from you?
Thanks
TheWorkGuy
29-03-2006 19:07:10
[quotef72b1b4e8b="kangol1223"][quotef72b1b4e8b="TheWorkGuy"][quotef72b1b4e8b="kangol1223"]When you request manual credit on an offer, how long does it normally take to be approved?
I did 7 offers for my iBook instead of the 6 required thinking that if 1 didn't go through I would have a backup, but 2 never went to "in progress".
I printed out the other 5 certificates and am waiting on 1 more to be approved. I called MSG today and they said they sent in my info to the companies today. I am waiting on credit on "Net Market" and "Complete Home". Has anyone else had trouble with these offers? How long did they take to be approved?
Thanks[/quotef72b1b4e8b]
Those ones took about 1-2 weeks to go "In Progress" for me, and my friend, and manual credits take a few weeks now!
TWG[/quotef72b1b4e8b]
Yea, they told me it would take 1 to 3 weeks when I called, but people had told me before that it took about 2 days for manual credit. As long as I get my iBook I will be happy. I need a good computer that I can rely on.
Once you send in all the certificates and the W-9 how long does it normally take untill they ship out the gift? On the site it says 6 to 8 weeks. How long has it taken for all of you from the time they recieved everything from you?
Thanks[/quotef72b1b4e8b]
Yeah!
Note If you have not sent in your W-9 form for a gift(s) yet, you only need to send one for all your gifts and your 6-8 weeks DOES NOT start until they process your W-9! Called them today, and got the rep kind of pissed, since I was pissed my 6-8 weeks was now on hold since they had not received a W-9 form from me yet, even though I just got the snail-mail letter, and my vouchers where received a few weeks back....
TWG
tylerc
29-03-2006 19:54:16
So ALL gifts need W-9s now? Even under $600?
Wolfeman
29-03-2006 20:21:28
[quote63cc7bfde9="tylerc"]So ALL gifts need W-9s now? Even under $600?[/quote63cc7bfde9]
For the umpteenth time, yes YFDirect wants W-9s for all gifts...
tylerc
29-03-2006 20:30:58
You forget I've been gone for the past 2 weeks.
Bah, that must be what this one I got in the mail is for.
kangol1223
30-03-2006 13:07:01
damn.. this is pretty uncool.
but I guess I can't really complain if I am getting a free laptop.. although it really isn't free now that I have to pay like $150 worth of taxes on it now.
li$#@ing government....
but anyway I will still have to wait another 1-3 weeks to get manual credit for my last offer.
When do they send you the W-9 form? Do they send it when they get your certificates or when you are approved?
If I print the form out and mail it in with my certificates I will be fine and my 6-8 weeks begin then, correct?
TheWorkGuy
30-03-2006 18:24:09
[quote435390e634="kangol1223"]damn.. this is pretty uncool.
but I guess I can't really complain if I am getting a free laptop.. although it really isn't free now that I have to pay like $150 worth of taxes on it now.
li$#@ing government....
but anyway I will still have to wait another 1-3 weeks to get manual credit for my last offer.
When do they send you the W-9 form? Do they send it when they get your certificates or when you are approved?
If I print the form out and mail it in with my certificates I will be fine and my 6-8 weeks begin then, correct?[/quote435390e634]
For anyone that is going to print their certificates from TODAY forward, the W-9 request will be included in your certificate completion links/email....any that sent in their certificates before the change, should be receiving a copy of the W-9 form from Netblue, Inc. which you'll need to fill out and send in!
From what the YF Direct/Netblue rep told me, you're 6-8 weeks does not start until they receive a W-9 from you! And you only need to send in one total, even if you are getting gifts from multiple sites!
TWG
tylerc
30-03-2006 19:56:20
Ok, so since I sent one in with my EFG vouchers a couple weeks ago, they will apply it to my IOG account, even though that has been waiting for shipment longer?
xigxag
30-03-2006 19:59:34
well, I got mine today for MSG plasma. It said 6-8 weeks wait for ship. This is 3 weeks after I have sent in my certs so blah. The eternal wait for my precious plasma. Quit delaying the inevitable YFD! You know I wil get my TV! Wonder how much they will put the value of the thing for on there? >$2000?
TheWorkGuy
30-03-2006 20:03:25
[quote6814e738b3="tylerc"]Ok, so since I sent one in with my EFG vouchers a couple weeks ago, they will apply it to my IOG account, even though that has been waiting for shipment longer?[/quote6814e738b3]
Yeah, Its complete Bullshit, but both your accounts are "on hold" until you get that W-9 to them, its fucked, seeing most of us have been waiting a good number of our 6-8 weeks already. But the rep. got all pissed at me when I kept double checking with her, that both my accounts do not start their 6-8 weeks waiting period until they receive a W-9 from me...
TWG
chillywilly
30-03-2006 20:48:14
[quotea3b639ea73="TheWorkGuy"]From what the YF Direct/Netblue rep told me, you're 6-8 weeks does not start until they receive a W-9 from you! And you only need to send in one total, even if you are getting gifts from multiple sites![/quotea3b639ea73]
Utter fucking bullshit... I mean, we are at their mercy, but to start the 6-8 week waiting period is uncalled for.
Doesn't really encourage others to sign up.
I wonder if we can send in the form before we are approved.... reference the email address then they can already have it.
Or have the form all ready to go and send it in with the certificates.
stackmjwiz
10-04-2006 12:08:13
1) Do I need to write anything in the "Requester's name and address (optional)" box?
2) Do I only send the 1st page of the W9? Or do I send all 4 pages?
3) Do I check the "Exempt from backup withholding" box?
Wolfeman
10-04-2006 12:22:02
[quote811d2e2363="stackmjwiz"]1) Do I need to write anything in the "Requester's name and address (optional)" box?
2) Do I only send the 1st page of the W9? Or do I send all 4 pages?
3) Do I check the "Exempt from backup withholding" box?[/quote811d2e2363]
1) Nope (on mine it was already filled in but they will do it)
2) Send all 4 to be sure but 1st page should be fine
3) I checked the idividual box and not the "Exempt" one
tylerc
10-04-2006 12:30:44
I only sent in the first page because that's the only page with information. Also, when I had to send a W-9 into FreePay, that's all I had to send in as well.
I checked exempt from backup withholding because my dad told me to (he is a CPA). That could be because I'm a minor, though.