trekerboy
11-07-2006 05:47:49
Crymson
11-07-2006 06:59:54
Hey question, did you have to fill out a W-9 for that?
Mr. ChEkO StIcK
11-07-2006 07:22:46
Nice i see you love to get the money.. LOL
ffactoryxx
11-07-2006 07:50:35
[quote7acc9687f0="Crymson"]Hey question, did you have to fill out a W-9 for that?[/quote7acc9687f0]
YES!
All NT sites require w-9 forms for prizes over $2000
JUNIOR6886
11-07-2006 09:18:53
for prizes over $600 actually. Furthermore its applied retroactively
so 2 $400 prizes also = w-9 form wink
trekerboy
11-07-2006 10:02:52
Yes, I had to fill out a w9 form for that... anything over $600, as someone said above, requires a substitute w9 form I think.
freedesktoppc
11-07-2006 10:32:37
[quoted87368c8b6="JUNIOR6886"]for prizes over $600 actually. Furthermore its applied retroactively
so 2 $400 prizes also = w-9 form wink[/quoted87368c8b6]
Thats a pretty new rule. What about stuff before this rule. Do you think they will add it to the tab?
edit just to clarify, I used to not have to fill out the w9 for $500 cards, but for my last one I did. But do you think they will add the amount of stuff I didn't do one for to my tab?
trekerboy
11-07-2006 10:49:36
I don't know if it depends on which state you are in or not, but in Michigan if you receive a "gift" with a value of $600 dollars or more you are required by law to pay taxes on it... has anyone else had a different experience?
dmorris68
11-07-2006 12:07:48
[quoted14817f1c5="freedesktoppc"][quoted14817f1c5="JUNIOR6886"]for prizes over $600 actually. Furthermore its applied retroactively
so 2 $400 prizes also = w-9 form wink[/quoted14817f1c5]
Thats a pretty new rule. What about stuff before this rule. Do you think they will add it to the tab?
edit just to clarify, I used to not have to fill out the w9 for $500 cards, but for my last one I did. But do you think they will add the amount of stuff I didn't do one for to my tab?[/quoted14817f1c5]
Whether it's their rule or not, it's law and has been for a long time. Regardless of whether a company asks for a W9, or even sends a 1099, you are required to claim any gifts/prizes with a total value greater than $600. It's federal law, plus state law in many states.
I expect they will total all prizes for you in the calendar year when they send out 1099's. They don't lineedli a W9 for every prize to count each one as taxable. The W9 is not sent to the IRS, it's only used by the company as an official record of where to send the 1099-MISC at tax time.
ahaxton
11-07-2006 15:29:54
OMG $2000 GIFT CARD SITE!!!! URL GIVE ME !!!!! PLEASE!!! lol
Ive been looking for a $2000 gift card site from nuitech. I had to do that stupid macbook pro which you cant even sell for nearly $2k. Lose like $500 on it.
ahaxton
13-07-2006 08:24:22
wooo Im doing 2 2k nuitech visa gift card sites simultaneously.
I think we need a thread in the DIY forum just for google search terms for the 2k gift card sites. (NO TO VOUCHERS!)