who gets the 1099 misc?

[RoseMarieDiana]

if you transfer linden to your paypal do you get it? or only if u reached the 20k threshold?

 

has anyone gotten this misc form, and what is the difference between the 1090k and the 1099 misc? and does that only apply if you made 20k dollars or more, or if you went over 600 USD?

[Rolig Loon]

From http://community.secondlife.com/t5/Commerce/Required-Tax-Documentation/ba-p/2336109

The Internal Revenue Service (IRS) requires Linden Lab to collect and retain Form W-9 (for U.S. residents) and Form W-8BEN (for non-U.S. residents) at certain transaction volumes. If you reach the transaction threshold and we do not have your completed and signed W-9 or W-8BEN on file, we are required to withhold funds from your account (at the current rate of 28% of your gross amounts received). Additionally, for U.S. residents with 200 or more transactions with a total amount in excess of $20,000 in a calendar year, we are required to file a Form 1099-K with the IRS reporting those transactions for that year.

If you are required to submit a W-9 or W-8BEN form to us, we will email you before the end of the year with instructions on how to do so. Please follow the instructions to complete and submit the required Form W-9 or W-8BEN within thirty (30) days of receipt. You will only need to complete this paperwork once unless your information changes from year-to-year. If you do not receive an email from Linden Lab, we do not need you to complete these forms.

See also http://community.secondlife.com/t5/Commerce/New-Resource-Tax-amp-Account-Documentation-FAQs/ba-p/2486253