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Author Topic: Dreamstime's New Tax Center  (Read 31317 times)

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lisafx

« on: August 31, 2010, 12:33 »
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Dreamstime has opened a new tax center.  Looks like we all need to fill out our tax docs there and upload ID.  I just finished.  It's pretty simple and self explanatory. 
http://www.dreamstime.com/tax-center

Here's the thread about it in DT forums:
http://www.dreamstime.com/thread_23797


« Reply #1 on: August 31, 2010, 12:51 »
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So, Dreamstime is going to withdraw 30% from now on for all residents on non treaty countries?
What happened to the fact that Dreamstime is not a US based company?

« Reply #2 on: August 31, 2010, 12:54 »
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Needs work.  Kept refusing my submission because I didn't include an Employer ID.  Finally gave up and put my SSN in both the SSN and Employer ID fields and got past that hurdle.

« Reply #3 on: August 31, 2010, 13:06 »
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Needs work.  Kept refusing my submission because I didn't include an Employer ID.  Finally gave up and put my SSN in both the SSN and Employer ID fields and got past that hurdle.

Same here :-)

« Reply #4 on: August 31, 2010, 13:32 »
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I no, not another stock site that got it wrong regarding the requirement of an ITIN for non-US citizens. Wonder how long it will take to convince Dreamtime that the only requirement is the W8-BEN without an ITIN. I still remember how both SS and FT also insisted on the ITIN. It was only after mass hysteria from contributors that they were forced to do their homework properly and acknowledged that an ITIN is not required. Dreamstime is very late to comply with the tax law requirements. I would have thought that by now they should have learned from the mistakes of the other stock sites.

red

« Reply #5 on: August 31, 2010, 13:38 »
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So, Dreamstime is going to withdraw 30% from now on for all residents on non treaty countries?
What happened to the fact that Dreamstime is not a US based company?

It is legally based in Tennessee, USA.

« Reply #6 on: August 31, 2010, 13:46 »
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I no, not another stock site that got it wrong regarding the requirement of an ITIN for non-US citizens. Wonder how long it will take to convince Dreamtime that the only requirement is the W8-BEN without an ITIN. I still remember how both SS and FT also insisted on the ITIN. It was only after mass hysteria from contributors that they were forced to do their homework properly and acknowledged that an ITIN is not required. Dreamstime is very late to comply with the tax law requirements. I would have thought that by now they should have learned from the mistakes of the other stock sites.

Oh boy, exactly.

sc

« Reply #7 on: August 31, 2010, 13:55 »
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Thanks Lisa - hadn't seen that.
Steve

« Reply #8 on: August 31, 2010, 14:17 »
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Thanks for the note Lisa.  I guess they'll send out an announcement eventually?  Anyhow, nice they used an online form.

« Reply #9 on: August 31, 2010, 17:31 »
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As FT backed down on the requirement for an ITIN, I am sure DT will as well.  Just look at the forum and it is already full of people demanding them to drop the ITIN requirement.  What will it be like when everyone finds out?  I find it hard to believe that they haven't sent out an email about this.  Don't the sites care about us anymore?  What happens to the people that don't read forums?

microstockphoto.co.uk

« Reply #10 on: August 31, 2010, 17:39 »
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What happens to the people that don't read forums?

They will find out the hard way, after being deducted 30%. Not very cool. Thanks Lisa for posting here.
« Last Edit: August 31, 2010, 17:41 by microstockphoto.co.uk »

« Reply #11 on: August 31, 2010, 18:04 »
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deleted
« Last Edit: August 31, 2010, 19:50 by cybernesco »

« Reply #12 on: September 01, 2010, 00:25 »
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As FT backed down on the requirement for an ITIN, I am sure DT will as well.  Just look at the forum and it is already full of people demanding them to drop the ITIN requirement.  What will it be like when everyone finds out?...

I would suggest everyone joins with a simple and polite statement on DT forums. The more the better. No complaining or calling names is needed. Just stating the fact that ITIN should not be needed.

« Reply #13 on: September 01, 2010, 01:41 »
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is there a date cut? like before the date all the payment isn't taxed?

if there is a date, contributors who got affected should drawn it before the date.

jareso

  • Boris Jaroscak
« Reply #14 on: September 01, 2010, 01:50 »
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deleted - posted by mistake :)
« Last Edit: September 01, 2010, 01:52 by jareso »

« Reply #15 on: September 01, 2010, 02:12 »
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is there a date cut? like before the date all the payment isn't taxed?

if there is a date, contributors who got affected should drawn it before the date.

15th September

« Reply #16 on: September 01, 2010, 02:56 »
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Perhaps they haven't announced it yet so that only a few people fill out the form at first and they can work out any bugs.

rubyroo

« Reply #17 on: September 01, 2010, 03:06 »
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Oh God... here we go again.  I'm sure we all remember seeing some non-US contributors go through all the hoops, travel miles, spend the money etc to get an ITIN, only to find that they never needed it in the first place with both SS and FT - and Veer.  Those agencies obviously discovered something very precise in the legal wording that caused them to change their policy.  Does anyone know exactly what they discovered, so we can point DT to that information?
« Last Edit: September 01, 2010, 03:19 by rubyroo »

« Reply #18 on: September 01, 2010, 03:12 »
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so payout before this date shouldn't be taxed right?

in this case, there will be a rush of payment request..before 15 sep.


is there a date cut? like before the date all the payment isn't taxed?

if there is a date, contributors who got affected should drawn it before the date.

15th September

« Reply #19 on: September 01, 2010, 03:18 »
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^ Yes. Although I doubt many people leave any significant amounts there.

Well, there may be exceptions, like FD :]]

rubyroo

« Reply #20 on: September 01, 2010, 03:23 »
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Just answering my own question above.  A search on this forum for "ITIN number" brought up this thread:

http://www.microstockgroup.com/fotolia-com/no-need-for-an-itin-number-with-fotolia-or-any-other-site/

« Reply #21 on: September 01, 2010, 03:35 »
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So, Dreamstime is going to withdraw 30% from now on for all residents on non treaty countries?

No. If you read their statement any tax witholdings will only apply to earnings from US sales. As a European contributor your US sales are likely to be 15-20% of total earnings. If so, for a non-treaty contributor, your witholdings will therefore be closer to 6-7% to total earnings.

At least that is one point that SS appear to have learned from the mistakes at SS & FT.

Thanks Lisa for the heads-up on this issue.

« Reply #22 on: September 01, 2010, 04:08 »
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So, Dreamstime is going to withdraw 30% from now on for all residents on non treaty countries?

No. If you read their statement any tax witholdings will only apply to earnings from US sales. As a European contributor your US sales are likely to be 15-20% of total earnings. If so, for a non-treaty contributor, your witholdings will therefore be closer to 6-7% to total earnings.

At least that is one point that SS appear to have learned from the mistakes at SS & FT.

Thanks Lisa for the heads-up on this issue.
On SS it's also only US sales but on FT it's all sales (it still is, they haven't changed it). I really don't understand why it comes to this difference?

« Reply #23 on: September 01, 2010, 04:11 »
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So, Dreamstime is going to withdraw 30% from now on for all residents on non treaty countries?

No. If you read their statement any tax witholdings will only apply to earnings from US sales. As a European contributor your US sales are likely to be 15-20% of total earnings. If so, for a non-treaty contributor, your witholdings will therefore be closer to 6-7% to total earnings.

At least that is one point that SS appear to have learned from the mistakes at SS & FT.

Thanks Lisa for the heads-up on this issue.
On SS it's also only US sales but on FT it's all sales (it still is, they haven't changed it). I really don't understand why it comes to this difference?

Sorry, you're wrong. On Fotolia the withdraw only for sales in the US. At least for me...

« Reply #24 on: September 01, 2010, 04:23 »
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Sorry, you're wrong. On Fotolia the withdraw only for sales in the US. At least for me...
You submitted the form right? I didn't and they withdraw tax on all of my sales.


 

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