Author Topic: IRS withhold_Veer Marcketplace Vs SS (Read 7352 times)

arquiplay77 · « **on:** June 09, 2009, 14:01 »

Well: I just complete my personal information at veer marketplace and was very surprised when i saw this in their US TAX information.

First of all i only had to fill an on-line form, and second, it says that if you are the rights holder, you DONT need an ITIN.
So what . is SS doing all this all the sudden, are they badly informed or legal advised or what?

massman · « **Reply #1 on:** June 09, 2009, 14:07 »

I don't know, but it's all over the SS forums, with no response from SS. Time for them to get some new advisers, it's no good just sitting on your hands and hoping it will go away. They need to sort out the mess.

Magnum · « **Reply #2 on:** June 09, 2009, 14:27 »

Quote from: massman on June 09, 2009, 14:07

I don't know, but it's all over the SS forums, with no response from SS. Time for them to get some new advisers, it's no good just sitting on your hands and hoping it will go away. They need to sort out the mess.

I don´t really think they´re sitting on their hands. Imagine the hysteria last week. They´re probably wanna work it out as well.

This looks good though. Lets hope SS comes to same conclusion.

melastmohican · « **Reply #3 on:** June 09, 2009, 14:34 »

I hope that despite of result somebody should be subject to tarring and feathering

dirkr · « **Reply #4 on:** June 09, 2009, 17:37 »

Quote from: arquiplay77 on June 09, 2009, 14:01

Well: I just complete my personal information at veer marketplace and was very surprised when i saw this in their US TAX information.

Dumb question: Where did you fill that out? There was nothing to fill out when I registered with Veer and I can't find any link to this form on the site as well

le_cyclope · « **Reply #5 on:** June 09, 2009, 18:55 »

Once you are accepted, you have to go trough few forms (name, address, etc.) and this particular form shows up automatically... With plenty infos on how to fill it.

How sweet it is...

Claude

eppic · « **Reply #6 on:** June 09, 2009, 22:11 »

Yes I really like the way Veer is looking and how organized they are. I hope we as contributors are successful over there.

Magnum · « **Reply #7 on:** June 10, 2009, 01:19 »

Quote from: le_cyclope on June 09, 2009, 18:55

Once you are accepted, you have to go trough few forms (name, address, etc.) and this particular form shows up automatically... With plenty infos on how to fill it.

How sweet it is...

Claude

I´m accepted but no forms showing...

dirkr · « **Reply #8 on:** June 10, 2009, 02:57 »

Quote from: le_cyclope on June 09, 2009, 18:55

Once you are accepted, you have to go trough few forms (name, address, etc.) and this particular form shows up automatically... With plenty infos on how to fill it.

How sweet it is...

Claude

Ok, thanks, I'll wait what they have to say about my initial 10 pictures...

Microbius · « **Reply #9 on:** June 10, 2009, 11:56 »

It appeared for me the first time I logged on.
Well done Veer! This is the sort of thing that SS is talking about getting sorted, but they still haven't got their act together to do it.
They've just left us at the "don't do anything yet position".

Edited to add, just checked back OMG that was 12 days ago, and no updates since then, shame on you SS!

SNP · « **Reply #10 on:** June 13, 2009, 00:43 »

any word from SS on this? how does this affect international contributors? does SS withhold a percentage of our earnings?

null · « **Reply #11 on:** June 13, 2009, 06:03 »

Quote from: Microbius on June 10, 2009, 11:56

Edited to add, just checked back OMG that was 12 days ago, and no updates since then, shame on you SS!

I raised my payout level on SS to 2000$ so I have some time to do all the paperwork. The withdrawal is only on payout. All topics about the IRS apparently have been banned on the SS forum. It's all about "they stole my pictures" and "show me your first/last download" again.

bittersweet · « **Reply #12 on:** June 13, 2009, 09:00 »

Quote from: Magnum on June 10, 2009, 01:19

Quote from: le_cyclope on June 09, 2009, 18:55
Once you are accepted, you have to go trough few forms (name, address, etc.) and this particular form shows up automatically... With plenty infos on how to fill it.

How sweet it is...

Claude

I´m accepted but no forms showing...

It wasn't really obvious at first (not like a pop-up window or something). After my initial 10 were approved, I went back to the same page to upload more files. On the top left there was some text, with part of one of the lines highlighted in orange as a text link. It said something like "answer a few questions" or something about payments. When you clicked on that you were taken to a screen to confirm your personal info, Paypal (or whatever) account, and digitally sign the tax document.

Have you uploaded more files beyond the first 10? Have you gone to the second tab to submit them? At some point in the process you should see that box of text on the left. Sorry I don't have a better memory of exactly when and where it appeared.

fotografer · « **Reply #13 on:** June 13, 2009, 09:31 »

No they haven't deleted them they have just re-grouped them all in their own section of the main forum. They have even let people have threads in their own languages.

Quote from: FlemishDreams on June 13, 2009, 06:03

All topics about the IRS apparently have been banned on the SS forum. It's all about "they stole my pictures" and "show me your first/last download" again.

Dreamframer · « **Reply #14 on:** June 13, 2009, 10:56 »

I saw the same thing on Veer, but I didn't react because I was a bit confused... I didn't know who to believe... SS or Veer

massman · « **Reply #15 on:** June 13, 2009, 12:00 »

Quote from: Whitechild on June 13, 2009, 10:56

I saw the same thing on Veer, but I didn't react because I was a bit confused... I didn't know who to believe... SS or Veer

Posted by Brian O'Shea from Veer: http://www.microstockgroup.com/veer-marketplace/veer-marketplace-opens-for-submissions!/msg103264/?topicseen#new

"We have consulted with our tax advisors, legal counsel and the IRS to ensure that we are properly collecting and maintaining the appropriate information with respect to the foreign photographers withholding tax obligatons.

Rest assured - we don't take this process lightly, and we've definitely done our homework."

eppic · « **Reply #16 on:** June 13, 2009, 18:58 »

At this point I would tend to believe Veer over SS. I also have my minimum payout raised with the SS so they have time to get their act together and I have time to respond. They really seem to be dragging their feet over there at SS.

null · « **Reply #17 on:** June 13, 2009, 19:48 »

For the IRS thing, I can only start acting in a month, so maybe SS by then adopts the solution of Veer. If not, going through the paperwork will be the only way to go since once you obtained the number, it will be valid for all American stock sites. If Microstock catched the attention of the US IRS, it's just a matter of time before other US sites will be affected.

luceluceluce · « **Reply #18 on:** June 16, 2009, 10:20 »

is it true that ss are not withholding June's payout anymore?

Adeptris · « **Reply #19 on:** June 16, 2009, 14:38 »

I have been doing some research and have read a post from LuLu, that the key seems to be the distribution method direct or through a 'Market Place',

If Veer trade through a direct channel to distribute you images into the US, then they would be classed as the publishers and the contributors share of the published asset is then a royalty to non-nationals and subject to withholding tax.

If the distrubution is through Veers Marketplace and this is a third party, then the contributors share is classed as earnings and not subject to withholding tax.

Withholding of Tax on Nonresident Aliens and Foreign Entities
http://www.irs.gov/pub/irs-pdf/p515.pdf

Here is the post from the LuLu forum, I know that it is books and not images but the distribution concept seems compatable to stock assets.
Interesting read as it looks like they withhold tax on books with an ISBN and sold through a direct US channel for US Authors as well:
http://www.lulu.com/forums/viewtopic.php?t=46905

David

luceluceluce · « **Reply #20 on:** June 16, 2009, 15:49 »

So SS trade as a direct channel... and are therefore publishers? So we're gonna get taxed after all. Or what? can anyone dumb this down to amoeba level pls?

: )

Microbius · « **Reply #21 on:** June 17, 2009, 03:37 »

SS gave very clear "do nothing till you hear back from us" instructions. I for one will be mighty peeved if they then turn round and withhold the tax from us for the June payments.

luceluceluce · « **Reply #22 on:** June 19, 2009, 08:25 »

Hi, SS just posted this update on the IRS stuff. I'm presuming they're referring to veer in the final sentence. (i bolded some text). all in all sounds like a possible wee bit of good news.

Quote

We thank you for your patience while we have taken time to carefully design a new Tax Center, in which you will find detailed information on tax matters for non U.S. submitters. We will be launching the Tax Center inside our Submit site soon, and we will send you an email announcement when it has been launched.

We also want to assure you that we will not begin withholding any taxes until after the Tax Center launch, and after you have been given a chance to determine which forms you need to comply and can begin that process. No one should submit any forms to the IRS until we have provided the additional instructions.

We apologize for the delay in providing you more specific instructions but we are using this time to consolidate everything you may need in a single location.

Finally, we recognize that other companies in our industry may have offered different views of what is necessary for compliance with U.S. tax laws. We will reconcile or reject these other views before we finalize our instructions to you.

MicrostockGroup Sponsors

Author Topic: IRS withhold_Veer Marcketplace Vs SS (Read 7352 times)

arquiplay77

massman

Magnum

melastmohican

dirkr

le_cyclope

eppic

Magnum

dirkr

Microbius

SNP

null

bittersweet

fotografer

Dreamframer

massman

eppic

null

luceluceluce

Adeptris

luceluceluce

Microbius

luceluceluce

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