What happens If I don't fill out a W-9 Form?
So I watched these videos online for a company called App Trailers and approved these videos to placed on its iPhone app. I earned 5 cents per video. I received an email in December saying that I earned over $600 in a year. Attached in the email was a W-9 form. I never filled out the form and I stopped making money immediately. What happens if I didn't fill out that form?
They were supposed to get the W-9 before they ever paid you anything. Without a valid SSN on file, they are required to withhold 28% for taxes.
BTW, all of the money you earned was taxable income (whether or not you get a 1099-Misc). Did you report it as required?
Self employed independent contractor using your daily written receipt book records to report your gross income on the schedule C or CEZ along with the SE to determine your NET PROFIT or LOSS from your business income during the tax year for this purpose.
SE your social security medicare tax amounts that you would OWE on your NET profit amount that would end up the page 1 line 12 from the schedule C and any SE tax owed page 2 line 56 and page 1 line 27 Deductible part of self employment tax attach schedule SE line 27 $$$ amount.
Starting, Operating, or Closing a Business
Starting a Business
Starting a business could be exciting. If you're considering starting a business, start here. This section provides information on everything from a checklist for a new business, to selecting a business structure, and more.
www.irs.gov/Businesses/Small-Businesses…
www.irs.gov/Businesses/Small-Businesses…
Hope that you find the above enclosed information useful. 05/11/2014
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