With the start of the new year it’s time to get your finances in order. Here’s a friendly reminder for all Teespring sellers based in the United States about filing their Form 1099.
Who needs to file a Form 1099?
Teespring accounts in the U.S. that request more than $600 USD in payouts within a calendar year will be prompted to complete a tax form. Sellers with multiple accounts will need to update their account information on all of their accounts as we will be merging your payout amount into one 1099 form.
Only individuals will receive a Form 1099 from Teespring; all other types (corporations, partnerships, LLCs, and international entities etc.) are responsible for reporting taxes themselves by consulting a tax accountant.
Check your account information
Please remember you have until Sunday, January 14th, 2018 at 11:59PM PST to update your tax info within your Teespring account settings. This includes:
- Making sure your Teespring login email is valid.
- Updating your default mailing address in your seller dashboard under “Settings”.
- Please notify firstname.lastname@example.org if your Tax Exemption Type has changed (for example, from Individual to Corporation).
If you don’t update your information and do not receive a Form 1099 from Teespring it is still your responsibility to file your taxes properly based on your earnings, including earnings from Teespring. Teespring cannot provide tax advice; please consult a tax professional.
A link to your Form 1099 will be sent to you via the email address associated with your Teespring account by January 31, 2018. If you have more questions about this process please refer to the FAQ page below. If you require further assistance please contact email@example.com.
Check out the tax FAQ page below: