slambam
16-02-2007 23:19:50
I already got $500 from the wii.123 site. If I do the ipod site it would put me over $600 between the two, would I have to do W-9 ( cry booo), or do the sites not combine ( D yayyy)? Thanks in advance.
123StuffForFree
16-02-2007 23:40:43
The IRS doesn't care which sites our users received their prizes from. All that matters to them is the total amount we paid out. So that's what matters to us, too.
Users who receive $600 or more from us in a calendar year must provide a W9 to us prior to receiving the prize that puts them over the limit.
-Dave
stueybaby17
22-02-2007 16:22:54
I completely understand that and I have no problem filling out a W-9. In fact I already have mine completed, I just need to find a scanner.
I'm just curious as to why 123stuffforfree requires a w-9 but trainn doesn't unless you recieve $600 from a specific site?
And again, I still love your site and have no problems filling out a W-9, I'm just curious.
moviemadnessman
22-02-2007 16:27:23
It might be because all the 123stuffforfree sites have that in the url (wii.123stuffforfree,ps3.123stuffforfree,etc), but Trainn sites do not, making each Trainn site its own entity.
stueybaby17
22-02-2007 16:33:23
[quote0576a9af3c="moviemadnessman"]It might be because all the 123stuffforfree sites have that in the url (wii.123stuffforfree,ps3.123stuffforfree,etc), but Trainn sites do not, making each Trainn site its own entity.[/quote0576a9af3c]
That's what I was thinking, but I wasn't sure. Probably the same thing for 2dollardeal.
123StuffForFree
22-02-2007 17:41:52
The IRS doesn't care about different sites or different domain names. If you received $600 or more in a calendar year from a company (123, Trainn, Freepay, etc.) that company is required to send out a 1099, which means a W9 needs to be filled out by the user.
Any company that doesn't do that risks a $50 fine for each person that should have received a 1099. So if there are 500 users that should have received a 1099, the fine for the site owners (not the users) would be $25,000.
-Dave
stueybaby17
22-02-2007 17:57:06
[quoted563e927a4="123StuffForFree"]The IRS doesn't care about different sites or different domain names. If you received $600 or more in a calendar year from a company (123, Trainn, Freepay, etc.) that company is required to send out a 1099, which means a W9 needs to be filled out by the user.
Any company that doesn't do that risks a $50 fine for each person that should have received a 1099. So if there are 500 users that should have received a 1099, the fine for the site owners (not the users) would be $25,000.
-Dave[/quoted563e927a4]
Hmm. . . I'm suprised that trainn doesn't require filling out a W-9 then. Oh well, it doesn't hurt me at all.