1099's - Does your sponsor send one?
 

One of my affiliates just asked me a question I could not answer, why don't all sponsors send out 1099 forms?

This particular affiliate had not received one from AFF or CCBill. Anyone know the answer to this?

If they don't send them they are most likely not doing tax's correctly.
Or they are really lazy and just paying the $100 fine per unsent.

Oh, also.

You don't send ones when you are paying companies or corps.
Just single people. If its paid to company name you don't have to send one.

I've received 3 total. CCBill has stated several times that they are legally not obligated to send them.

Tony, I operate as a corporation, not a single person. Why am I getting ANY at all if what you say is true?

They still can send them. But arn't supposed to.

i only got about 5 of them, i promote over 30 sponsors.

I wish I wouldn't get any sent to me.

But I get all of them everytime. :(

Thats pretty strange. Wonder how they get around it?

you don't have to send a 1099 out unless the affiliate made $600 or more....so that narrows it down to about 5 people on this board :1orglaugh

Every year I email Adult Friend Finder and they tell me the same thing. They are late sending them, but they will be sent. I have yet to ever get a 1099 from them.

I think thats a pretty hefty fine too.

That was the first thing I told my affiliate, but they said they make more than $600 from both of those parties.

At least you can see your yearly earnings on the stats (not that they shouldn't send them). It sort of messes up your return when you don't have them.

Depends how the business reports to the IRS. 1099 not issued out by Jan 31 of the year by the company, reciever does not have to report the income unless he/she wants to. The tricky part is that if one is audited, IRS doesn't care if you got the 1099 or not and not reported the income you recieved :Oh crap

Never heard this interpretation of the tax code before.
Income must always be reported or great pain and suffering could ensue.

The reciever of income should pay taxes on it, but it depends how the company report it in their books and if one gets an 1099. Trying to say if you don't get a 1099, and if you don't pay taxes on the income you did receive, you can't use the excuse that I never recieved it. But the IRS is very forgiving, if the company that you got income from never sent it :)

Oh boy.

I'm not sure why you are posting this info.

Your options are pay . . . or suffer.

ive made a nice amount with a company for 4 years and never once seen a 1099 from them

(lol)

Naw, any income I get from a vendor/or sponser that is over the IRS demands I include to be safe even if I didn't receive a 1099 from them.

I just learn the hard way :)

Thats BS. Might even get you tax evation charges. You gotta report all your income.

Just because they don't send one, don't think for a minute you don't have to claim it as income.

Regardless of any fine THEY would have to pay if they're audited - be more concerned with the tax evasion charge and penalties you will deal with if you decide not to claim it.

Stating you "never got one" will not protect you from hefty interest, penalties, or any other issues that may arise.

:winkwink:

Claiming ingnorace won't help either ... consult a tax advisor regardless!

:2 cents:

We send out 1099's to individuals/dba's and to LLC's that earn over $600 a year.

You are kidding, right?

I guess I can skip reporting the 6 figures I made with CCBill this year? :1orglaugh

That's not true..... Incs and LLCs have to report income from all sources. If either reports your income and you haven't it becomes your prob.... :warning

I'm just wondering if anyone has ever gotten a 1099 from Adult Friend Finder? I know for the past 3 years that I have been with them I haven't.