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YanBz
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Heads up for W9 form requirement

submitted on November 3, 2008 by YanBz in "Buxr Website / Contests"
If you make $600 in conteest winnings during the year, IRS guidelines require us to send you 1099 at the end of the year. In order to comply with the regulations you must fill out and send us a W9 form.

This will not affect most of you and is just a heads up to our active members. You will receive an email if/when your winnings go over $600.

Additionally, you can see all your winnings for the year at this page (login required):
http://www.buxr.com/prizes
You can also see the total winning for each member on their public profile page.

If you have any questions, post them here or send us an email.
 

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  Comments
  • 9574
    LadyZaxxon
    beginner
    Posted by LadyZaxxon on November 3, 2008
    [reply] 1 0
    I WISH I HAD THAT PROBLEM.
      9589
    • Solstice
      professor
      1 6 2
      11 4 1
      Posted by Solstice on November 3, 2008
      [reply] 0 1
      Give it a little time, it sneaks up on you fast. I got my notice in the e-mail today to discover that I hit the bar. (Keep in mind I've been around about 3 months now.) The sad part is that I spent most of it on other deals posted on the site. Smile

      Something cool I noticed today though. If you click on someones profile you can see how much they have won total in the past. (Nice feature mods, thanks for adding it, although I don't know if it was recently or not.)
  • 16382
    Solstice
    professor
    1 6 2
    11 4 1
    Posted by Solstice on February 15, 2009
    [reply] 0 1
    When should I expect to get the 1099 form in the mail, so that I can report it on my taxes?
      16383
    • YanBz
      admin
      Posted by YanBz on February 15, 2009 [reply] 0 0
      You should have it within a few days. I believe Mike already sent out them
    • 16394
    • MikeG
      learner
      Posted by MikeG on February 15, 2009 [reply] 0 0
      Yep they've been sent. Thanks for your patience guys!
    • 16408
    • Solstice
      professor
      1 6 2
      11 4 1
      Posted by Solstice on February 16, 2009 [reply] 1 1
      Thanks, cause' you know I'm so looking forward to paying those taxes. Wink
  • 16443
    JackBauer
    admin
    Posted by JackBauer on February 16, 2009 [reply] 0 0
    FYI, all income is required to be reported, whether or not you receive a 1099 or not. Should Buxr get audited, the IRS will see everyone they made payments too and will mostly like cross reference your records to see if you reported that income.
      16448
    • Solstice
      professor
      1 6 2
      11 4 1
      Posted by Solstice on February 16, 2009
      [reply] 0 1
      In short, anyone electing not to report their winnings should hope the BUXR files its business taxes properly. Then again, there is always that slight chance of a random audit. In any case, Jack is correct regarding what he is saying, and that possibly does exist, however remote it may be.
  • 37803
    YanBz
    admin
    Posted by YanBz on September 10, 2009
    [reply] 1 0
    One of the members asked a very good question about the 1099 some of you will receive from us at the end of the year. Here it is:

    Is this going to be 1099-MISC form? Would I be reporting it as additional income when I file my taxes? Also, do I need to file Schedule C along with form1040 to report this?


    I had to talk to our tax person to get the answer and I thought I would post it here so others can benefit from this information as well. So here it goes...

    Yes, it will be a 1099-Misc and the member will have to report the winnings as additional income. A schedule C is to record profit and loss from a business (or business activity), so the Buxr winnings would not count for this purpose.

    The member would simply have to add the winnings reported on the 1099 as additional income on his 1040 (I'm not certain about what line it is on the form).


    Hope this helps!
  • 92221
    YanBz
    admin
    Posted by YanBz on December 16, 2010 [reply] 0 0
    Bumping up since we sent the form to a few members this month. We usually hold off your requested payments if we don't receive the W9 from you. So if your payment seems to be stuck in "pending", check your email spam folder Wink
      96213
    • onkarkulkarni
      professor
      9 4 4
      11 8 2
      Posted by onkarkulkarni on January 13, 2011
      [reply] 2 0
      Yan, I have't received the form yet if you have sent it already. Can you please resend this? Is this in a email or mail?
    • 96229
    • YanBz
      admin
      Posted by YanBz on January 13, 2011
      [reply] 2 0
      I have not sent them out yet. This will probably be coming by mail, but I will need to double check.
    • 96468
    • YanBz
      admin
      Posted by YanBz on January 14, 2011
      [reply] 1 0
      I just double checked, the 1099-MISC will be mailed by regular post. I will try to get it done next week
    • 96475
    • onkarkulkarni
      professor
      9 4 4
      11 8 2
      Posted by onkarkulkarni on January 14, 2011
      [reply] 1 0
      Thanks for the follow up Yan!
    • 99733
    • CouponNut
      deity
      23 14 8
      12 10 2
      Posted by CouponNut on January 26, 2011
      [reply] 1 0
      Big Grin
  • 96197
    CouponNut
    deity
    23 14 8
    12 10 2
    Posted by CouponNut on January 13, 2011
    [reply] 3 0
    Bringing it to the front for the tax season ahead.
  • 96450
    deby32953
    professor
    Posted by deby32953 on January 14, 2011
    [reply] 2 0
    A nice reminder for those of us who need to start collecting items for a hopeful refund!
  • 96451
    deby32953
    professor
    Posted by deby32953 on January 14, 2011
    [reply] 2 0
    Yan, would it be too much of a problem to get receipts for our holiday donations?
      96469
    • YanBz
      admin
      Posted by YanBz on January 14, 2011
      [reply] 2 0
      Deby, the donation went as one payment, so I don't have separate receipts.
  • 98801
    CouponNut
    deity
    23 14 8
    12 10 2
    Posted by CouponNut on January 24, 2011
    [reply] 2 0
    January 31st 2011 Is The Deadline For 2010 Forms 1099MISC 1099
  • 98992
    YanBz
    admin
    Posted by YanBz on January 24, 2011
    [reply] 2 0
    Just a heads up, the 1099's are in the mail. If you earned more than $600 in prizes this year (and previously sent us your W9) then you will be receiving a 1099-MISC form later this week
      101016
    • onkarkulkarni
      professor
      9 4 4
      11 8 2
      Posted by onkarkulkarni on January 30, 2011
      [reply] 1 0
      Got mine, thanks.
    • 101046
    • deby32953
      professor
      Posted by deby32953 on January 31, 2011
      [reply] 1 0
      Got mine yesterday. Just made it! Knew I shouldn't have posted those last 2 months! Now Uncle Sam will take 45%!
  • 99590
    CouponNut
    deity
    23 14 8
    12 10 2
    Posted by CouponNut on January 26, 2011
    [reply] 1 0
    Big Grin
  • 100866
    CouponNut
    deity
    23 14 8
    12 10 2
    Posted by CouponNut on January 30, 2011
    [reply] 1 0
    Recipients W9's should be postmarked no later than Jan 31st!
  • 112317
    YanBz
    admin
    Posted by YanBz on April 22, 2011 [reply] 0 0
    Bumping up as the reminder since some members hit the limit recently
  • 124351
    YanBz
    admin
    Posted by YanBz on September 8, 2011 [reply] 0 0
    If it looks like your payment requests are taking forever to get processed, check your email inbox, you might have a W9 request from us!
      124357
    • psplove
      professor
      3 1 6
      11 9 2
      Posted by psplove on September 9, 2011 [reply] 0 0
      I have question about submit W9 from? I only need to submit when I request $600+ a year OR I made $600+ a year?

      Thanks! Yan.
    • 124359
    • DebsFreebies
      professor
      2
      10 5 1
      Posted by DebsFreebies on September 9, 2011
      [reply] 2 0
      When you make it Smile Doesn't matter who HAS your money but if you earned it, it is your earnings they look at.
    • 124361
    • YanBz
      admin
      Posted by YanBz on September 9, 2011
      [reply] 4 0
      Contrary to what DebsFreebies said, we look at how much you requested during the year, not how much you earned. The reason for doing so is that until the winnings land in your bank account they are not technically yours since they can a) expire or b) be forfeited. Both of these situations are explained in our Terms of Service on this page: http://www.buxr.com/generalterms
    • 124398
    • psplove
      professor
      3 1 6
      11 9 2
      Posted by psplove on September 9, 2011 [reply] 0 0
      Thank You Debs and Yan!
  • 124447
    DebsFreebies
    professor
    2
    10 5 1
    Posted by DebsFreebies on September 9, 2011
    [reply] 1 0
    My mistake. That'll teach me to open my mouth Smile Thanks for the correction Yan!
  • 134601
    YanBz
    admin
    Posted by YanBz on December 8, 2011 [reply] 0 0
    There is one particular member who has a prize balance but is missing W9 form. Unfortunately the member doesn't answer my emails, so I have nothing left to do but keep posting into this discussion thread.

    If you have requested a prize payment which hasn't come for some time, the chances are you need to send us W9 form. We usually process all payment requests weekly and it shouldn't take more than a few days for your request to be processed.
      134684
    • clover
      professor
      1 6 7
      12 11 2
      Posted by clover on December 8, 2011 [reply] 0 0
      Yan, I just want to say thank you for submitting my earnings request in such a timely response! It is very much appreciated and needed especially during the Holidays! Have a very special Holiday Season to you, HouTex, shawndiaz & Solstice!
    • 136492
    • bemicmom
      professor
      6 3 4
      10 9 2
      Posted by bemicmom on December 20, 2011 [reply] 0 0
      I have one question.
      If someone request for earnings on suppose dec 28 2011 and the earning get transferred in PayPal in jan 2012. Will that amount be called as 2011 or 2012 earnings?
    • 136494
    • YanBz
      admin
      Posted by YanBz on December 20, 2011 [reply] 0 0
      It would be your 2012 earnings. I will however try to clear all payment requests out by the end of 2011 to avoid this sort of confusion.
    • 136518
    • bemicmom
      professor
      6 3 4
      10 9 2
      Posted by bemicmom on December 21, 2011 [reply] 0 0
      Thanks.

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