Any US creator using FameBit that makes over $600 over the course of a calendar year will be required to fill out a W-9 form. FameBit collects W-9s digitally in the FameBit dashboard under the Payment Info tab in Settings.
International creators are not required to fill out a W-9 but will have to declare they are not a US citizen during the FameBit Payment Info process.
Please note: FameBit does not withhold any taxes from funds received on FameBit. Please consult a tax professional for advice and tax obligations.
WHAT IS A W-9?
FameBit is required by law to report any payments made over $600 over the course of a calendar year to the IRS. As such, all US creators who make over $600 on FameBit are required to fill out a W-9. The W-9 collects basic information such as name, address and social security number of the persons who received payment. We use a secure digital form to collect this information which can be accessed via the FameBit admin panel.
WHAT IS A 1099?
A 1099 is the tax form that FameBit will send you that will give you details on how much you were paid over the course of the year from FameBit. 1099's are sent out by the end of January. Please note this form is only sent to US taxpayers.
FameBit does not give any tax advice. Please consult a tax professional for advice.