w-9 for everything (even if it's below $600 total)

I heard that free4me is now requiring a w-9 for any gift. Is this true?

thats odd...

I hope it isn't true..wish someone could verify it

Yea, it's true.

Check out this thread
http//www.anything4free.com/forums/index.php?showtopic=63396

Oh that isn't that bad. I heard it was for every single gift even if youre total of all gifts is below $600.

May I ask what a W-9 is?

I've never done one, but I understand it's some type of tax form that you have to fill out when you get a gift over $600 (or your total of gifts from a network is over $600). You have to pay a certain amount based on your income.

I think.

Oh boy, another W9 thread... roll

Yes, it's a tax form, however it isn't sent to the IRS, it's the official record of taxpayer info that is used to generate the 1099 form at tax time.

You are required by law to report all gifts/prizes in excess of $600 (cumulative) as income. It doesn't have to be one gift over $600, but a total, from ALL sites. These sites have to cover themselves legally by having the paperwork on file and generating 1099's, otherwise they cannot deduct the purchase of the gifts as a business expense. It's a downside of "professional" freebie harvesting, so get used to it. Every site that survives will eventually require this because to not be able to deduct their expenses creates a huge tax burden for them.

Search the forums, we have a blue million W9 discussions.

[quoteedf45aad05="dmorris68"]Oh boy, another W9 thread... roll

Yes, it's a tax form, however it isn't sent to the IRS, it's the official record of taxpayer info that is used to generate the 1099 form at tax time.

You are required by law to report all gifts/prizes in excess of $600 (cumulative) as income. It doesn't have to be one gift over $600, but a total, from ALL sites. These sites have to cover themselves legally by having the paperwork on file and generating 1099's, otherwise they cannot deduct the purchase of the gifts as a business expense. It's a downside of "professional" freebie harvesting, so get used to it. Every site that survives will eventually require this because to not be able to deduct their expenses creates a huge tax burden for them.

Search the forums, we have a blue million W9 discussions.[/quoteedf45aad05]

Thanks for the breakdown. +K to you and zdub.

Says only if over 600 on their network cumulative. I only finished one of their sites so i'll be fine D.

[quote274240bc9d="KnightTrader"]Says only if over 600 on their network cumulative. I only finished one of their sites so i'll be fine D.[/quote274240bc9d]
Yep, exactly what I was thinking. I was only worried when I was told it was for any gift.

[quotee4cc061261="zdub08"][quotee4cc061261="KnightTrader"]Says only if over 600 on their network cumulative. I only finished one of their sites so i'll be fine D.[/quotee4cc061261]
Yep, exactly what I was thinking. I was only worried when I was told it was for any gift.[/quotee4cc061261]
same here