Tax Information

Completing your profile and preparing to work

All WorkMarket users must have verified tax information in order to withdraw earnings. Payments made to a freelancer are not considered "earnings" until they are associated with a verified TIN. Each January, freelancers are issued an earnings report. If they have earned over $600, they may also receive a 1099-MISC.

 

Frequently Asked Questions

 

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How do I enter my tax info?

  1. Click your profile icon in the upper right corner of the top navigation bar
  2. Select Settings in the drop down menu
  3. Select Tax Info on the left side of the screen located in the "Company" box
  4. Choose how you report to your tax authority (as a business or sole proprietor)
  5. Enter the required information as it is on file with your government (you can use your tax inquiry form or a W9 for reference if you're unsure)
  6. Sign and date the government-issued form

*NOTE* The system will generate a W9 for you, once you've provided your tax information. The W9 will be available for you to download in your Tax Documents section.

 

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How long does tax info take to verify?

Tax info can take about 2-4 business days to verify.

 

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Can I edit my tax info after it has been verified?

You may update your tax information at any time once it has been verified or rejected by the IRS by clicking the blue "Edit Tax Info" button .

 

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Why was my tax info rejected?

If your tax information is rejected, the submitted information is not matching what the IRS has on file. Once rejected, you may edit your tax information and resubmit it.

  • Make sure when submitting an EIN, that you are following the format as listed on your tax inquiry form or W9. Any mismatch in company name or classification will cause the information to be rejected.

 

*NOTE* New EINs can take up to 3 weeks before they are updated in the IRS matching database which may result in your tax information being rejected

 

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I'm located outside the US, will my tax info still go through verification?

While international users will not be subject to the same verification process as those located in the US, tax information will still be required to withdraw.

 

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Where can I find my tax documents?

Tax documents are uploaded to each user's profile by January 31 every year. To view your tax documents, click here.

 

*NOTE* All users will receive an earnings report, however 1099s are only made available to those who earned over $600. Additionally, clients may distribute 1099s as well.

 

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My 1099 is incorrect, what should I do?

WorkMarket issues tax documents based on the information verified in your account as of December 31. Any amendments you'd like to make after you receive your 1099 will need to be completed by your tax preparer.

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1 Comments

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    Avatar
    Pat Yarasi

    This question came up for me today, so I thought I would post the answer here. Canadian business tax info takes the following format:  100000000-MC-0001

    Edited by Pat Yarasi
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