All iWantClips Stores operate as Independent Contractors and not employees. This means that all payouts you receive will have no taxes withheld and you will be paid 100% of your earnings. The differences between US Stores and International Stores are as follows:
U.S. Stores - You will be required to complete a W9-Form in order to open your store. On or before January 31st you will receive a 1099-MISC Tax Form (with the SSN or TIN you submitted with your W9-Form) from Gatsby Enterprises, Inc.
The 1099 will contain the total income your store earned during the year and is to be used by you to file your annual income tax return. This form will also be sent to the IRS for all stores who earn more than $600.00.
International Stores - Depending on your country, some wire transfers will require a National ID Number (or your country’s equivalent) that might be reported as earnings to your governing body.
*If you have any tax related questions, please contact us at firstname.lastname@example.org with the subject line Tax Inquiry.