MicrostockGroup
Agency Based Discussion => 123RF => Topic started by: melastmohican on March 04, 2018, 19:16
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It seems like they did not send the form again this year.
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I contacted them about 2 weeks ago and they said that the 1099s would be available around the "first of March". Still waiting...
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Just got off a live chat with them and this was the comment:
"We have spoken with our Finance Team. They have filed an extension with the IRS and will provide the relevant tax forms by early March. Please check your Tax Center page for the tax form updates during that time."
When I pointed out it was already "Early March" and nothing was posted I was told they hoped to have them out "by next week at least" which makes me think they will not be posting them until mid March or later.
Their Finance Team needs to be replaced. So incompetent that they cannot manage a basic thing like issuing 1099's on time.
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I'm still waiting too
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I already filed my taxes. So sick of the incompetence at 123. I ran my own numbers and hope they are the same or that theirs is less than mine.
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123 does tax forms? Last year I think they never bothered and the year before that it was the wrong form. I do it like Mantis - just add up what they paid me during the year and report that.
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1099's are still not out. Ridiculous!
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Yep, no 1099 for me.
I didn't want to wait anymore and I went ahead, filing my taxes, yesterday.
Short of 1099, I used the PayPal total received from them, in 2017.
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I'm going to wait for it until the bitter end.
I don't want any problems with the IRS wondering why the 1099 wasn't reported and raising a red flag.
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Don’t bother waiting. They never get it to you on time. Just tally your earnings for the year and submit it to your accountant.
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Yep, no 1099 for me.
I didn't want to wait anymore and I went ahead, filing my taxes, yesterday.
Short of 1099, I used the PayPal total received from them, in 2017.
Right. That's the slippery slope though. Some agencies 1099 you on what you earned (sales) for that calendar year and others like Pond5 1099 you on what you withdraw in a calendar year. Really, the smart bet is to take whichever is greatest. Such an incompetent company. 123 is likely next on my list of agencies to close. Sales are so sparse that it is going to take three months to hit $50 for a payout. I have about 4500 assets there (mix of video and stills). Something has drastically happened there. This was not a slow death. It happened pretty quickly for me anyway. And with the year over year 1099 debacle they keep having it tells me a lot about their infrastructure....chaotic and unorganized.
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This is what they emailed me last night:
"Thank you for your enquiry.
The tax forms are currently in the process of being ported to the Tax Centre page to be made available for download. It should be available soon within the next 1-2 weeks, at the soonest possible time.
Hope this clarifies, have a nice day!"
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This is what they emailed me last night:
"Thank you for your enquiry.
The tax forms are currently in the process of being ported to the Tax Centre page to be made available for download. It should be available soon within the next 1-2 weeks, at the soonest possible time.
Hope this clarifies, have a nice day!"
That's the same email I got - a month ago.
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At this rate I might not get 1099'd next year. This is my third month not making the $50 payout threshold. If Google really is affecting 123, they have taken my income from the $200 a month range to the $30-$40 a month range.
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...
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They are OUT!
BUT it is WAY higher amount than my Paypal says. A $951 difference. Anyone know about the difference?
I still only see the 2016 - And BTW they have never matched my figures.
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My apologies, I was looking at my 2016 return earlier comparing earnings with 2017 and then checked 123 again. I got my years messed up. I need a vacation ...
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My apologies, I was looking at my 2016 return earlier comparing earnings with 2017 and then checked 123 again. I got my years messed up. I need a vacation ...
Don't we all?
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Would you not just file to avoid being late and/or at the back of the line yourself? By February I just start doing them. We always need the extra return after winter anyway. If another business drops the ball in their reporting that's their own fault. But, as long as you're balancing your accounts every week or so I wouldn't even worry about it. The 1099 is for your benefit, for people who don't keep track really.
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Not reporting a 1099 can be a red flag. Of course if I don't get it by April 11, I'm just going to file and put the amount in the "other income" section on my schedule C. I think it is very rude making me wait so long.
Watch them supply it on April 17th...
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Per the IRS: Public Law (P.L.) 114-113, Division Q, section 201, requires you to file Form 1099-MISC on or before January 31, 2018, if you are reporting NEC payments in box 7, using either paper or electronic filing procedures. For all other reported payments, file Form 1099-MISC by February 28, 2018 if you file on paper, or April 1, 2018, if you file electronically. File Form 1099-MISC, Miscellaneous Income, for each person in the course of your business to whom you have paid during the year: At least $10 in royalties.
Edited for dates...
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Their reply yesterday after I sent another email:
"Thank you for contacting us.
Firstly, we would like to apologise for the delay in the release of the tax forms for your tax compliance matters. Kindly note that 123RF had applied for an extension with the IRS.
With regards to the release of the tax forms, they will be made available by end of next week; our IT team is in the midst of completing the task. They have given us this timeline when the forms will be available then via our Tax Centre page: https://www.123rf.com/tax/ (https://www.123rf.com/tax/)
We thank you in advance for your patience in the meanwhile.
Best Regards,
Your Submissions & Review Team"
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That is inexcusable. They asked for a delay so all the rest of us are supposed to put off our returns due to their incompetence? It's not like taxes come as a surprise every year.
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Yep, no 1099 for me.
I didn't want to wait anymore and I went ahead, filing my taxes, yesterday.
Short of 1099, I used the PayPal total received from them, in 2017.
Right. That's the slippery slope though. Some agencies 1099 you on what you earned (sales) for that calendar year and others like Pond5 1099 you on what you withdraw in a calendar year. Really, the smart bet is to take whichever is greatest. Such an incompetent company. 123 is likely next on my list of agencies to close. Sales are so sparse that it is going to take three months to hit $50 for a payout. I have about 4500 assets there (mix of video and stills). Something has drastically happened there. This was not a slow death. It happened pretty quickly for me anyway. And with the year over year 1099 debacle they keep having it tells me a lot about their infrastructure....chaotic and unorganized.
P5 was spot on for me, as well as all the others, except for FT. For me, Fotolia showed, every year, a significant discrepancy between what I withdrew and their 1099.
I withdrew every week, but I still had more than a hundred $ difference. In this case, I went with the official 1099, of course.
Last year, 123 has reported the right amount, after their second 1099 publishing attempt, so I suppose my 2017 statement, based on PayPal calculation, will also be correct this year
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Some places report cash method vs accrual, so it depends if they're reporting the year they sent the payment vs the year that you earned it. Usually if I see discrepancies between my numbers and theirs, it's due to that.
This is really ridiculous regarding 123rf not even being able to provide our 1099s within a reasonable amount of time. Even getting them in February or March is considered very late. I'm being held up in a lot of ways by this. We don't all have the simplest tax returns to file. I even have to deduct my duplicate 1099-MISC income from the figure that PayPal sends via the 1099-K, otherwise I get double taxed. You just make a line item for it on Schedule C. Leaving the 1099-K off of my return got me a soft-audit a couple years in a row, back in 2012 and 2013. Sending paypal statements and info to prove the income was double reported was like another 15-20 hours worth of work. Huge mistake there, on my part... but at least now I know how to avoid that. But I still want to accurately report the same numbers that they are going to report.
I really hope 123rf sticks to their word, and put them out online by the end of this week. We have to file by MONDAY!! I just emailed them as well; we all should email them so that this actually gets done.
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I hear you! I'm really upset! This is the latest I have ever filed.
I don't want any problems with the IRS so that is why I am still waiting for it.
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THEY ARE AVAILABLE GUYS!!!
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Phew - the amount on the 1099-Misc is exactly what I reported for that company!
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Phew - the amount on the 1099-Misc is exactly what I reported for that company!
Same here - this is a first for them.
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Phew - the amount on the 1099-Misc is exactly what I reported for that company!
Same here - this is a first for them.
Same here - exactly the same amount I already declared, to the cent.
But I had the same accuracy last year.
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I'm VERY happy about this. But I hope the same thing doesn't happen like last year... that they issue a revised / corrected 1098 after we have all already filed. I'm still waiting for that to come back to one of us.
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I still have not received anything from them. Their contributor support was offline since last Thursday and their regular support refused to help me and said to email them, which I've previously done, but never gotten a response from. I got connected to contributor support today and they gave me this response "1099 and 1042 will be released by end of this week. Apologies for the delay and kindly not that 123RF has applied for an extension with the IRS."
This is absolutely absurd. I don't think anyone there understands anything about US taxes, and I tried to impress on them that for individuals they are due tomorrow at the latest. They said they'd get back to me, but that's extremely unlikely. I know what my royalties were, but based on past years, they have no idea. So, I guess I'll wait until tomorrow. Regardless of what happens, I am permanently removing all of my work from their site. This level of incompetence doesn't deserve any of my business, not to mention that my sales on there have collapsed over the past year.
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I still have not received anything from them. Their contributor support was offline since last Thursday and their regular support refused to help me and said to email them, which I've previously done, but never gotten a response from. I got connected to contributor support today and they gave me this response "1099 and 1042 will be released by end of this week. Apologies for the delay and kindly not that 123RF has applied for an extension with the IRS."
This is absolutely absurd. I don't think anyone there understands anything about US taxes, and I tried to impress on them that for individuals they are due tomorrow at the latest. They said they'd get back to me, but that's extremely unlikely. I know what my royalties were, but based on past years, they have no idea. So, I guess I'll wait until tomorrow. Regardless of what happens, I am permanently removing all of my work from their site. This level of incompetence doesn't deserve any of my business, not to mention that my sales on there have collapsed over the past year.
Just log into your back end on 123rf. Then go here: https://www.123rf.com/tax/ (https://www.123rf.com/tax/)
Your 1099 should be in there, as ours were. Yeah, really nice that we didn't even get any sort of notification. Thankfully we are all paranoid and checked it regularly enough.
Best wishes, Martian!
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So how much of a fee do they get hit with? The inter-webs say they can charge $50 to $100 per late 1099.
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Just log into your back end on 123rf. Then go here: https://www.123rf.com/tax/ (https://www.123rf.com/tax/)
Your 1099 should be in there, as ours were. Yeah, really nice that we didn't even get any sort of notification. Thankfully we are all paranoid and checked it regularly enough.
Best wishes, Martian!
Yeah, I've tried that and various other things like clearing the cache and other browsers and devices, but nothing's there. I've checked just about every day too.
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I never received any forms. But I did get a response from them today saying they "only apply withholding tax for US-based downloads" and since I didn't have any tax withheld they don't send 1099s.
There's no way I didn't have any US-based downloads, and they're also supposed to send 1099s regardless of if I had any tax withheld. So I'm still baffled by everything they do.