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Author Topic: I see tax form 1099 and form 1042-s, What is the second one? Is it a mistake?  (Read 7682 times)

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« on: February 23, 2016, 19:32 »
0
Hi guys....
I sent a W-9 as i live IN America...
I was waiting for the 1099 misc for tax by mail, but I looked into the account and it was there for printing...

This 1099-misc is okay, it comes from Chicago. I only made 1.44 royalties it says.

but then I look and there is a second form, wich is a 1042-S, and this 123RF has an address from Chicago, and also an address from Hong Kong...I never got a 1042 from an agency...Can anyone explain to me what is this????

Have you got one too????
« Last Edit: February 23, 2016, 19:52 by sweetgirll »


w7lwi

  • Those that don't stand up to evil enable evil.
« Reply #1 on: February 23, 2016, 19:58 »
+1
Here's an explanation.  Hopefully it will help you understand better.

http://www.ehow.com/about_6517826_irs-form-1042_s_.html


« Reply #2 on: February 24, 2016, 10:16 »
0
I think they messed up. They should send 1099. I contacted live help and they asked me to send email to submission@123rf.com.
« Last Edit: February 24, 2016, 10:25 by melastmohican »

« Reply #3 on: February 25, 2016, 10:21 »
0
Could someone tell me exactly where I can download my 1099 form on that tax center page?  Their contributor support is (as usual) no help at all.  When I log in and go to the tax page I see "123RF Tax Center" at the top with a green block saying "W-9 submitted" and "download submitted form", which is just a copy of the W-9 I filled out for them years ago. 
The rest of the page seems to just be instructions for filling out W-9's or whatever form you need depending upon which country you are in. 
Maybe it's on there somewhere and I'm just not seeing it.

« Reply #4 on: March 02, 2016, 15:48 »
0
Can't find my form either, I contacted contributor support days ago and no answer yet.    I can't file my return as this is the last site missing the form.

angelawaye

  • Eat, Sleep, Keyword. Repeat

« Reply #5 on: March 02, 2016, 16:50 »
0
Same problem for me with 123. They said early March it would be available. I guess after the 10th it won't be early March so technically it should be there by then ...

« Reply #6 on: March 02, 2016, 16:51 »
0
I got an email from them yesterday saying I didn't have any withholding, so no tax form.  What? :o
What does that have to do with getting a 1099?  I guess I'll just add in the amount showing for total income for 2015 on my account page and hope for the best.  Might just add a note for the IRS agent saying they didn't provide me with a 1099, and here is their phone number and address if you'd like to talk to them about it.  ;)

« Reply #7 on: March 02, 2016, 17:03 »
0
Crazy, 1099 is for Miscellaneous income reporting including royalties.   In the worst case if we do not get a form we have to compute the exact deposits we got as earnings and file that as other income without a form 1099.

Lets hope they get it by March 10th.  :)

« Reply #8 on: March 02, 2016, 17:04 »
+1
Same problem with me and my friend. We both got 1042-s instead of 1099

Hongover

« Reply #9 on: March 02, 2016, 18:35 »
+1
I got a 1042 as well. No 1099.

Someone must have got the 2 mixed up and send wrong documents to everyone.

« Reply #10 on: March 02, 2016, 18:49 »
0
I found the reason why I got two forms...

according to them this is what happened:
I missed the july deadline to fill out the W form,  I filled that form later.
 That's their explanation.

My guess is... I got the foreign form 1042 because  I made almost 3 dolars during the time I forgot to fill the form, so  0.80 cents got computed, witholded and reported in that form, so I think that's the 30% withelding....Interesting that form has their USA and Hong Kong office addresses.  My 1099 was for somethign around 2 dollars, I'm guessing that's what I made after I filled the form.


« Reply #11 on: March 03, 2016, 01:38 »
0
I got a 1042 as well. No 1099.

Someone must have got the 2 mixed up and send wrong documents to everyone.

I also only got the 1042, tho I have lived in the US for years and they have my address.  I wrote support and they said I didn't fill out a w9 for 2015.  I guess I  didn't,  but I filled one out a couple years ago and it should still be on file.  All the other sites only make you fill it out once unless something changes.  SS, DT, FT, etc are still using ones I filled out a couple of years back.  Besides, once I told 123 about the problem, they should have sent the right form.  What good is a 1042 to me living in US?

Hongover

« Reply #12 on: March 03, 2016, 03:13 »
+1
I got a 1042 as well. No 1099.

Someone must have got the 2 mixed up and send wrong documents to everyone.

I also only got the 1042, tho I have lived in the US for years and they have my address.  I wrote support and they said I didn't fill out a w9 for 2015.  I guess I  didn't,  but I filled one out a couple years ago and it should still be on file.  All the other sites only make you fill it out once unless something changes.  SS, DT, FT, etc are still using ones I filled out a couple of years back.  Besides, once I told 123 about the problem, they should have sent the right form.  What good is a 1042 to me living in US?

I clearly remember filling out a W9 a couple weeks after I joined. I think it was before June 2015, but I can't be sure...since I accidentally deleted all my 123RF emails when I was cleaning out my inbox. I'm assuming I didn't fill it out in time since they just send me a 1042.

It seems useless, but maybe it isn't. It does contain the necessary information including the gross income and what they withheld. That information could be useful to the accountant and you have the numbers if you're doing taxes by yourself. Regardless, they could easily generate a 1099 and I don't know why they don't.

It's not really a big deal to me since I only earned a little over $100. I'm going to send the 1024 to my accountant and hope he can use that information.

« Reply #13 on: March 03, 2016, 15:26 »
0
I got an answer back:

Thank you for contacting us.

Your Tax Centre page does not have the 1099 Tax statement as you did not incur any withholding tax.

We hope this clarifies.

______________

This is wrong, a 1099 must be issued regardless if you had money withheld or not if you reside in the US and had income.    I believe they are confused with US tax paperwork over there.  This is so frustrating!  :-\

« Reply #14 on: March 03, 2016, 19:12 »
+1
I got an answer back:

Thank you for contacting us.

Your Tax Centre page does not have the 1099 Tax statement as you did not incur any withholding tax.

We hope this clarifies.

______________



This is wrong, a 1099 must be issued regardless if you had money withheld or not if you reside in the US and had income.    I believe they are confused with US tax paperwork over there.  This is so frustrating!  :-\

That's the same exact thing they told me.  It didn't (clarify).

« Reply #15 on: March 05, 2016, 03:14 »
0
I got an answer back:

Thank you for contacting us.

Your Tax Centre page does not have the 1099 Tax statement as you did not incur any withholding tax.

We hope this clarifies.

______________

This is wrong, a 1099 must be issued regardless if you had money withheld or not if you reside in the US and had income.    I believe they are confused with US tax paperwork over there.  This is so frustrating!  :-\

Hi guys, you probably did not make enough in payout with them during 2015, that is why they did not send 1099-MISC. I believe there is a limit and they are required to issue 1099-MISC only if it has more then $600 in earnings, but I am not sure about the exact amount.

Yeah, giving 1042-S to US person/company is wrong, but you can still use it for numbers and attach to your tax return with the explanation for the IRS that 123RF messed it up badly (they did it for bunch of US contributors, which really tells you how sloppy they are with these things). That is so annoying. 

« Reply #16 on: March 10, 2016, 16:41 »
+1
I made just shy of $600 from them in 2015 however I got paid over $800 from 2014 remaining balances.  So I declared the full payout amount 800+ which is what I received.  I filed it as other business income as royalties.

I cannot wait for them to get their act together with the forms this year. It is a tiny part of my return and holding would cost me in time and $.  My accountant said that if I did not receive a 1099 from them then declaring it as other business income is the way to go.   Taxed the same just different form. Maybe next year they will fix the way they file the forms.

« Reply #17 on: March 25, 2016, 05:14 »
0
I also received the 1042-s form. I am a US citizen. Here is the response I received from 123 rf.

As per tax instructions, the 1042-s tax statement was prepared based on a default withholding tax rate of 30% as you had not submitted any W8/W9 tax form for the fiscal year of 2015. The amount of gross is only for the earnings that was taxed. Non-US downloads are not subject to any withholding tax.

123RF cannot predetermine which tax form is applicable without the submission of the W8/W9 form as supporting documentation. From 22nd March 2016 onwards, as you have already submitted a tax form in 2016, you should receive the proper tax document from earnings made from the date of submission in the future.

If you have any further questions, please consult the relevant tax authorities and/or a tax advisor in your country of residence.

Hope the above clarifies.

Best Regards,
Your Submissions & Review Team

« Reply #18 on: March 25, 2016, 14:29 »
0
I also received the 1042-s form. I am a US citizen. Here is the response I received from 123 rf.

As per tax instructions, the 1042-s tax statement was prepared based on a default withholding tax rate of 30% as you had not submitted any W8/W9 tax form for the fiscal year of 2015. The amount of gross is only for the earnings that was taxed. Non-US downloads are not subject to any withholding tax.

123RF cannot predetermine which tax form is applicable without the submission of the W8/W9 form as supporting documentation. From 22nd March 2016 onwards, as you have already submitted a tax form in 2016, you should receive the proper tax document from earnings made from the date of submission in the future.

If you have any further questions, please consult the relevant tax authorities and/or a tax advisor in your country of residence.

Hope the above clarifies.

Best Regards,
Your Submissions & Review Team

I had the same situation.   But no other sites expect us to fill out a new W9 for each year.  You only have to fill out one and it applies to future tax years.  I know 123 had my W9 for past years because I got 1099s from them.  If they needed a new W9 then they should send out notices in December or January.

« Reply #19 on: March 28, 2016, 17:32 »
+1
I got a 1042 as well. No 1099.

Someone must have got the 2 mixed up and send wrong documents to everyone.

I also only got the 1042, tho I have lived in the US for years and they have my address.  I wrote support and they said I didn't fill out a w9 for 2015.  I guess I  didn't,  but I filled one out a couple years ago and it should still be on file.  All the other sites only make you fill it out once unless something changes.  SS, DT, FT, etc are still using ones I filled out a couple of years back.  Besides, once I told 123 about the problem, they should have sent the right form.  What good is a 1042 to me living in US?

same here... I emailed them.  Waiting to hear a response.  I have a few weeks to file my taxes and now get to deal with this fun, yayy!  my own fault for procrastinating. 

« Reply #20 on: March 28, 2016, 21:17 »
+1

Anyone else's 123RF 1099 way off? Mine is more than $1k under what they actually paid me.

« Reply #21 on: March 28, 2016, 21:32 »
0
I got a 1042 as well. No 1099.

Someone must have got the 2 mixed up and send wrong documents to everyone.

I also only got the 1042, tho I have lived in the US for years and they have my address.  I wrote support and they said I didn't fill out a w9 for 2015.  I guess I  didn't,  but I filled one out a couple years ago and it should still be on file.  All the other sites only make you fill it out once unless something changes.  SS, DT, FT, etc are still using ones I filled out a couple of years back.  Besides, once I told 123 about the problem, they should have sent the right form.  What good is a 1042 to me living in US?

same here... I emailed them.  Waiting to hear a response.  I have a few weeks to file my taxes and now get to deal with this fun, yayy!  my own fault for procrastinating.

No need to bother waiting for a response.  They won't change their mistake and issue a 1099.  Might as well just take the 1042 to your accountant.   Mine just included the gross earnings in my misc. Income, minus the withheld amount.  Ridiculous level of incompetence from 123RF.   Would not be at all surprised to see them audited.

« Reply #22 on: March 28, 2016, 22:35 »
+2
I received e-mail from them today saying they had an updated 1099 for me in the tax center.

I'm a US citizen living in the US and so there was no 1042-2

However my name on the updated form was "J" - nothing else - and the amount was less than half the total earnings for 2015. Not to mention those forms are to be sent out by the end of January - my return is already filed.

As the amount is less vs. more it won't cause any problems, but as they are apparently unable to fill the form out correctly, it's a crapshoot as to what number ends up there.

I wrote to support telling them it was wrong and that they need to re-issue it with the correct name and amount.

Edited to add that support replied. They said that Withholding tax was implemented July 1st 2015 so the 1099 covers only July through Dec 2015. Although the number is still wrong (according to them; I didn't add it up). They say they've notified the relevant departments.

The idea that I've been earning from them the entire tax year and  yet they issue a 1099 for just part because of some internal bureaucracy of theirs seems wrong. But as it doesn't make any difference to my tax return, I'm not going to pursue it further.
« Last Edit: March 29, 2016, 00:10 by Jo Ann Snover »

« Reply #23 on: March 29, 2016, 09:14 »
0
...The idea that I've been earning from them the entire tax year and  yet they issue a 1099 for just part because of some internal bureaucracy of theirs seems wrong. But as it doesn't make any difference to my tax return, I'm not going to pursue it further.

Yeah, I'm not going to pursue it at all. Not my problem. They're not the first company to issue me an incorrect 1099, although not sure I remember another company ever being off by this much. But I'll just report actual earnings and not worry about it, knowing that my numbers are accurate.

« Reply #24 on: March 29, 2016, 09:29 »
0
Hi,
Jo Ann and EmberMike, I think there is something I read in that W9 email request
about only the U.S. downloads getting taxed and foreigner downloads didn't get taxed
or something like that????
Could that be the reason for the difference?


I received e-mail from them today saying they had an updated 1099 for me in the tax center.

I'm a US citizen living in the US and so there was no 1042-2

Edited to add that support replied. They said that Withholding tax was implemented July 1st 2015 so the 1099 covers only July through Dec 2015. Although the number is still wrong (according to them; I didn't add it up). They say they've notified the relevant departments.

The idea that I've been earning from them the entire tax year and  yet they issue a 1099 for just part because of some internal bureaucracy of theirs seems wrong. But as it doesn't make any difference to my tax return, I'm not going to pursue it further.


 

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