Skyword want to ensure that all members of our community understand the issuance of 1099 forms by third-party payment processors for 2024 tax year earnings.
Skyword contributor payments are sent via our third-party payment processor, PayPal. Based on IRS code section 6050W, PayPal is now responsible for reporting your earnings to the IRS and providing you with the appropriate 1099 communications. In short, this means that Skyword will not be providing you with a 1099 this year unless we sent you a direct payment for services rendered.
PayPal has advised that tax documentation will be made available around January 31st in their Statements & Tax Center (for individual accounts) or the Tax Statements Page (for business accounts).
If you did not receive a 1099 from PayPal we have created this help center article to assist you with self-reporting. This article will explain how you can easily export your total annual earnings using the Skyword360 platform.
While Skyword is not providing you with a 1099 form for 2024 earnings, we still require a W9 form for each contributor performing services on our platform, and if the information needs to be added to your Skyword360 profile, we will be reaching out shortly. If you have any questions regarding this update, please contact support@skyword.com.