Disclaimer: As independent contractors, it is the responsibility of the Space Owners to keep track of their earnings and to accurately report them in their tax filings. General 1099 overview and Stripe FAQs can be found here as a reference. 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.
I already have a Stripe account. Do I need to do anything?
If you already have a Stripe connected account, no additional sign-up is required. Please login with your previously created login credentials to update your Taxpayer Identification Number (e.g. Social Security Number), mailing address, etc. to ensure your information is correct and up-to-date before December 31, 2021. This will ensure accurate tax information reporting and timely delivery of your Form 1099-MISC or Form 1099-K, if required.
Why did I get a 1099-MISC?
Under US tax law, producers that earn royalty of $10 or more within a calendar year will receive a Form 1099-MISC. A 1099 form is used to report contractor earnings to the IRS.
When will my Form 1099-MISC be available?
The 2021 Form 1099-MISC will not be available until February 1, 2022. You can expect the Form 1099-MISC to arrive within 3-5 business days of February 1, 2022 at the mailing address we have on file in your Stripe account.
Can I elect to receive my 1099-MISC electronically in lieu of and/or in addition to paper delivery?
Unfortunately, Stripe does not support electronic delivery of your Form 1099-MISC at this time.
I never received my tax form. What do I do?
Please make sure the mailing address in your Stripe account is up to date and correct, and contact firstname.lastname@example.org.
I believe the amount on my 1099-MISC is not correct. What do I do?
For questions about the amounts included on your tax form, please contact email@example.com.