As a publisher, you will generate income. Every Country has different laws in regards to reporting income for tax purposes. As a publisher, you are solely responsible for reporting this information to your local government to pay taxes. The Urban Twist will not pay out extra revenue to cover local or federal taxes under any circumstance.
If you earn at least $600 dollars from us in any given calendar year, we will have to further authenticate your identity for our own tax purposes and issue you a 1099-MISC at the end of the year.
This is only applicable to writers who live in the United States. You would then be required to report this to the Internal Revenue Service as we will be reporting it to them as well. If you don’t authenticate yourself at the time of you crossing the $600 threshold, it could delay you from receiving future payments.
Here’s a handy article that explains what a 1099-MISC is. And as always when it comes to taxes, if you don’t know much about taxes yourself, it’s always wise to consult with a professional. You can also read more about self-employment and 1099-MISC’s on the IRS website.
