CAT Lowey Posted March 20, 2014 Share Posted March 20, 2014 I received a letter today from Linden Labs saying that they were requesting more info from me. Based on the volume and/or amount ot process-credit requests. They want information from me for tax purposes. They are refusing to process any credit until they receive further info and I have 30 days to comply. I am based in the UK .My questions are: 1. Will my account be terminated if i don't reply?2. If I send the relevant info how will this affect me3. Will I be liable for any unclaimed tax? and if so how far back could this potentially go?4. Should I just close my account ? Link to comment Share on other sites More sharing options...
Tex Monday Posted March 20, 2014 Share Posted March 20, 2014 I am not a tax professional, especially regarding laws in the UK, but I did find this on wiki http://wiki.secondlife.com/wiki/Linden_Lab_Official:Required_Tax_Documentation_FAQ Maybe that will help...but as for your questions: 1. No, LL will probably not close your account. Most likely, they won't allow you to do anymore payouts until you comply. 2. Again, I have no idea about tax laws in the UK but I would think that you would be taxed somehow on the Lindens that you cashed out. You were supposed to have filled out a W8-BEN. Is that what LL is asking you to complete? 3. Since this is a new policy, I would suppose that you would only be liable for taxes for this year.... 4. That is your decision. There isn't much about the taxes that you have to pay for this past year, but you would have to determine if the cost of processing is worth the amount of money you're cashing in...and if you can afford (or wish to) lose that income. Not able to advise you any more than that, unfortunately. My suggestion might be to ask a tax professional. They know the laws better than you or I and should be able to advise you. Good luck Link to comment Share on other sites More sharing options...
Marigold Devin Posted March 20, 2014 Share Posted March 20, 2014 If it is a letter, rather than an email, then you need to respond to it. In answer to your questions: 1. Probably. 2. If all your transactions are legitimate and not seen as potential money laundering ones or fraudulent in any way then you account will continue as normal. 3. Do you mean will you be liable for any taxable income you haven't declared to the UK tax system - undoubtedly. When the tax office owes you money they only go back two years, if you owe them money, its five years. 4. Too late to close the stable door after the horse has bolted. Go seek official advice from the tax office. And good luck! Link to comment Share on other sites More sharing options...
CAT Lowey Posted March 20, 2014 Author Share Posted March 20, 2014 Thank you for the link it was very helpful. But I'm unclear as to why I've even received an email from LL . I've had over 200 sales in the past year but in no way have I earned or processed credit to the tune of $20.000. Not even half ofthat amount! I 've submitted a case to LL stating this and hopefully should hear back from them soon. If tax info is required on the basis that you need to earn 20k or more then I shouldn't even need to worry about it really and once LL check my process credit history they should see this too. and yes theyr'e asking me to fill out a Non-U.S. resident W-8BEN form. If I do have to send the form off what will LL do with the information? Keep it on file or will they send it to the IRS? Link to comment Share on other sites More sharing options...
Marigold Devin Posted March 20, 2014 Share Posted March 20, 2014 STOP! An email? Not a letter. Don't fill out that form - don't give any private details - its a phishing email by the sound of it. Link to comment Share on other sites More sharing options...
garey Solo Posted March 20, 2014 Share Posted March 20, 2014 Excerpt http://wiki.secondlife.com/wiki/Linden_Lab_Official:Required_Tax_Documentation_FAQ How do I know if I need to submit documentation? If you are required to submit documentation to Linden Lab, we will email you with links to the appropriate forms and instructions on how to submit them. If you do not receive an email from Linden Lab, we do not need you to complete these forms. I received an email from LL requesting the above information today. I sumitted a ticket immediately to LL before I filled out the form and they replied stating that it was a genuine email. Link to comment Share on other sites More sharing options...
Marigold Devin Posted March 20, 2014 Share Posted March 20, 2014 In your case, it was genuine, as Linden Lab have been able to confirm. BUT at no time would any organisation send out an email with a link that would be requesting information such as PIN/passwords and suchlike. We all need to err on the side of caution. Edited to add: Having read the Wiki entry, it just beggars belief really that Linden Lab would make it so very very easy for potential scammers to potentially scam Second Life residents - or maybe it doesn't. :matte-motes-confused: Link to comment Share on other sites More sharing options...
Perrie Juran Posted March 20, 2014 Share Posted March 20, 2014 CAT Lowey wrote: Thank you for the link it was very helpful. But I'm unclear as to why I've even received an email from LL . I've had over 200 sales in the past year but in no way have I earned or processed credit to the tune of $20.000. Not even half ofthat amount! You need to read carefully. The $20.000 refers to forms that are specifically for U.S. Residents. Not to the form you need to fill out. CAT Lowey wrote: Thank you for the link it was very helpful. and yes theyr'e asking me to fill out a Non-U.S. resident W-8BEN form. If I do have to send the form off what will LL do with the information? Keep it on file or will they send it to the IRS? They are only required to keep the form on file. However if the IRS requests it then they have to show it to them. Link to comment Share on other sites More sharing options...
Kelli May Posted March 21, 2014 Share Posted March 21, 2014 No! New tax sucks! Link to comment Share on other sites More sharing options...
Dillon Levenque Posted March 21, 2014 Share Posted March 21, 2014 I was thinking, "Well yeah, but so do old taxes Your comment is valid but not all-inclusive.". Then I clicked on the link to the original message to which you had replied (and which I'd forgotten). You funny lady :-) :smileyvery-happy: Link to comment Share on other sites More sharing options...
Amie Kaestner Posted March 21, 2014 Share Posted March 21, 2014 I'm in the UK and I haven't gotten this email. Link to comment Share on other sites More sharing options...
SpiritSparrow Skydancer Posted March 27, 2014 Share Posted March 27, 2014 CAT Lowey wrote: I received a letter today from Linden Labs saying that they were requesting more info from me. Based on the volume and/or amount ot process-credit requests. They want information from me for tax purposes. They are refusing to process any credit until they receive further info and I have 30 days to comply. I am based in the UK . My questions are: 1. Will my account be terminated if i don't reply? 2. If I send the relevant info how will this affect me 3. Will I be liable for any unclaimed tax? and if so how far back could this potentially go? 4. Should I just close my account ? WHy do you ask here? Why dont you call Linden Labs? Link to comment Share on other sites More sharing options...
CAT Lowey Posted April 2, 2014 Author Share Posted April 2, 2014 What does that mean exactly? I don't understand what the threshold is for UK citizens it doesn't actually say. Any ideas? Link to comment Share on other sites More sharing options...
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