How do I handle my royalties on my taxes?

DW Creative Publishers will mail an IRS Form 1099-MISC to authors residing in the United States for any royalty payments issued above $10.00 or more for the calendar year. The form will be emailed and/or mailed by January 15th. The form is required by the IRS to report income by way of royalty and withholding. If no royalty payments were issued, you will not receive an IRS Form 1099-MISC.

For international authors, DW Creative Publishers will mail a Form 1042-S for any royalty payments issued above $10.00 or more for the calendar year. The form will be emailed and/or mailed by January 31st.

In addition, the IRS requires DW Creative Publishers to keep a Form W-9 (United States) or Form W-8BEN (International) on file for every author receiving royalties from the sale of books. Refusal to provide may result in a significant percentage of tax withholdings in accordance with the IRS and the tax law of the United States.

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