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123RF / Re: I see tax form 1099 and form 1042-s, What is the second one? Is it a mistake?
« on: March 25, 2016, 05:14 »
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
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