Tax Filing

TAX FILING

Tax Filings & 1099 Forms

Disclaimer: The content creator acknowledges that he or she operates as an independent contractor and not as an employee of wiCollect. wiCollect will not withhold or pay any income, Social Security, Medicare, or unemployment taxes on the content creator’s behalf.

The content creator is solely responsible for determining, filing, and paying all applicable federal, state, and local taxes, including quarterly estimated taxes and self-employment tax. wiCollect provides no tax advice.


Why This Disclaimer Matters?

  • No Withholding: As a 1099 worker, you do not have traditional payroll taxes deducted from your income or paychecks. Instead, you are responsible for calculating and submitting these earnings and taxes yourself.
  • Liability Shift: It legally protects wiCollect from being held accountable for any tax penalties, audits, or misclassification claims you may have. 
  • Benefits Waiver: It prevents independent contractors, who are content creators, from accessing traditional employee benefits such as unemployment, worker’s compensation, and health insurance.


Key Tax Deadlines & Forms to Track

If you earn $400 or more in net self-employment income, you must file a Schedule C and/or Schedule SE with your personal return. 

  • Quarterly Estimated Taxes: Due April 15, June 15, September 15, and January 15. You generally use Form 1040-ES to calculate these payments.
  • Nonemployee Compensation: You will receive a form 1099-NEC from wiCollect if your gross earnings are $600 or more in a calendar year through its App or platform. 


1099 Forms

Revenue authorities, such as the IRS, usually require that you provide a copy of the tax form to the payee, along with filing the original form. According to IRS recommendations, the tax form you deliver should be a “Copy B,” with the payee’s taxpayer identification number (TIN) redacted to the last four digits.

The IRS mandates that you provide tax forms to payees via postal mail, unless you’ve obtained their explicit consent to exclusively deliver the forms electronically. However, if you haven’t obtained consent for electronic delivery, you can still opt for electronic delivery, provided you also mail a copy of the tax form to the payee.

For further details, refer to the IRS Requirements for Furnishing Information Returns Electronically. Tax forms must be delivered on the first business day on or after January 31. For postal delivery, they must be postmarked by this date.

Tax forms are always delivered to payees the first time they’re filed with a revenue authority, including e-filing with the IRS and state tax agencies. If a tax form is both e-filed with the IRS and to a state, it’s only delivered on the first of these events.


Delivery Options

There are three options for wiCollect to deliver 1099 tax forms to content creators and users of app.

  1. E-delivery with a Stripe-built product:

Use the Stripe Dashboard, Stripe Express Dashboard, or Stripe Embedded Components to collect e-delivery consent and deliver tax forms.

  1. E-delivery with Tax Forms API:

Utilize the Tax Forms API to directly control and manage the entire e-delivery process. 

  1. Postal delivery

 Use Stripe to send tax forms via postal delivery.


E-delivery with Interface Built by Stripe

wiCollect’s connected accounts can access their e-delivered tax forms for content creators and app users through an interface developed by Stripe. If wiCollect has implemented Stripe Embedded Components, the link directs their connected account to the Embedded Component.

Otherwise, wiCollect can access the tax forms through the interface that they typically use for non-tax reporting interactions.

For instance, if wiCollect’s connected accounts process its payments through the Stripe Dashboard, their 1099 forms are automatically e-delivered there. Similarly, if wiCollect’s connected accounts process its payments through the Stripe Express Dashboard, their 1099 forms are also automatically e-delivered there.

However, if you manage the entire onboarding and management process for your connected accounts and have not configured Embedded Components for tax reporting, the Express Dashboard will still be accessible.