Disclaimer: As independent contractors, it is the responsibility of the producers to keep track of their earnings and to accurately report them in their tax filings. Quora is only required to withhold U.S. taxes, but local income tax laws may still apply to your earnings as well. Any questions about what you have to report on your taxes should be directed to a tax professional, as Quora cannot provide you with tax advice.
Quora has responsibility under U.S. tax law to collect tax information, withhold taxes, and report to the Internal Revenue Service (U.S. tax authority) for all Space earnings. Tax withholding is when taxes are deducted from your payments so that they can be paid to a government to satisfy the payee’s U.S. tax liability.
If appropriate mailing address and tax identification number (e.g. Social Security Number) is provided at time of sign up or in the Stripe account settings before your first payment, the withholding rate is zero (no taxes will be withheld) so the amount you see in your dashboard is the amount you have earned and will receive. If no mailing address and tax identification number is provided, Quora will be obligated to withhold 24% of your earnings and remit to the Internal Revenue Service. You will see the gross earnings before tax withholding on your dashboard.
Your earnings are withheld based on the information you provide in Form W-8 (or Form W-9 if you are a U.S. permanent resident abroad). Once you reach earnings of $10 or more, you will be required to provide tax information via Form W-8 before you can receive payout of your earnings. You will see the gross earnings before tax withholding on your dashboard.