CUTCASTER TAX GUIDELINES – How to report your earnings properly?

Taxes aren’t fun, and as your partner in business, Cutcaster wants to do it’s best to help you determine which tax forms are required by the I.R.S. and/or by us. While Cutcaster cannot explicitly provide tax and/or legal advice, we can provide the information we think is relevant to assist you in making a decision about how to comply with applicable U.S. tax laws no matter where you live in the world.  Regardless of what you read here, we think it’s always best to contact your legal and/or tax advisor before reaching a final conclusion.

Which Tax Forms Should I Use?

All Cutcaster sellers must read the following guidance on how to comply with U.S. withholding tax laws:

A.   Are you submitting to Cutcaster as an individual? If “yes”, then you fall into one of these three groups:

GROUP 1 — If you are submitting to Cutcaster as an individual and are a U.S. citizen or resident alien, then no matter where you are worldwide you can submit Form W-9 to us to satisfy your filing requirement. Typically there will be no withholding of taxes on any of your Cutcaster income.

GROUP 2 — If you are submitting to Cutcaster as an individual and are a resident of a country that has a tax treaty with the U.S., then please submit Form W-8BEN digitally on Cutcaster’s website to benefit from the reduced or zero withholding rate that is specified in your country’s tax treaty. Note that a U.S. Tax ID # (TIN) is not required for GROUP 2.

GROUP 3 — If you are submitting to Cutcaster as an individual and are not a resident of a country that has a tax treaty with the U.S., then your U.S. source income from Cutcaster will be subject to 30% withholding tax. Please submit Form W-8BEN to us digitally on our website. Note that a U.S. Tax ID # (TIN) is not required for GROUP 3.

B.   Are you submitting to Cutcaster as an LLC, partnership, or corporation? If “yes”, then you fall into one of these two groups:

GROUP A — If you are submitting to Cutcaster as an LLC, partnership, or corporation and the entity is organized under U.S. law, then you can submit Form W-9 to us to satisfy your filing requirement. Typically there will be no withholding of taxes on any of your Cutcaster income.

GROUP B — If you are submitting to Cutcaster as an LLC, partnership, corporation, or association and the entity is not organized under U.S. law, use Form SS-4 to apply for a TIN. Once you have obtained a TIN, please consult with your tax adviser to determine which type of Form W-8 is correct for you. If you choose the W-8BEN, please complete it digitally on our website. If you choose a different W-8 form, please complete it and contact Cutcaster for further instructions.

GROUP C.   If you are not an individual, LLC, partnership, or corporation, then please consult with your tax adviser to determine which IRS forms are correct for you. Once you have determined which forms are appropriate, please contact Cutcaster.

Please print out the relevant IRS document(s) which we’ve attached herein, fill them out, scan them (save a copy for your records), and email the image(s) to us.  All personal information is of course confidential and will be held securely.

For questions or concerns please email taxes@cutcaster.com.

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