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What’s the deal with Freebiez-R-Us and taxes?

April 26, 2017deal freebiez-r-us taxes

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What’s the deal with Freebiez-R-Us and taxes?

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I have heard that most freebie networks require me to submit some tax-related form. Great question! In legal terms, your free gift is considered a form of payment or compensation given to you by Freebiez-R-Us. In the USA, citizens who make an excess of $600 from one business entity are required to file taxes with the IRS. The business that paid the citizen also has to submit paperwork. Because each of the web sites in the Freebiez-R-Us Network is independent from each other, you will only have to pay taxes on the sites in which your gift was worth an excess of $600. After you complete the requirements on a Freebiez-R-Us web site, if your gift exceeds $600, a Freebiez-R-Us representative will contact you. If you are a USA citizen, you will be asked to fill out a W-9 form. If you are not a USA citizen, you be asked to fill out a W-10 form.