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Tax Form Requirements

The IRS has implemented a threshold for issuing 1099-Ks where you must meet TWO requirements:

  • At least $20,000 in total payments AND at least 200 transactions (payouts)

To support these requirements, Zenfolio partners with Stripe to collect information that is typically required when filling out a W8 or W9 form.  Stripe will use these W8 or W9 forms to accurately prepare and send a 1099 form to all qualifying photographers.

 

If you have not yet completed your W8 or W9 form through Stripe, payouts from Zenfolio will be paused until this has been completed.  To update or complete the W8 or W9, please follow the steps below: 

  1. In your Zenfolio account, hover your mouse pointer over your username in the top right-hand corner. Click on Account.
  2. On the left-hand side click on Selling.
  3. Choose the Payout Profile and Tax Info option, from the left-hand side of the page.
  4. On the Payout Profile and Tax Info page, indicate your US Income Tax Applicability.
  5. Click Connect Stripe to update your tax information.
  6. Follow the prompts in Stripe to submit your business information.  Once completed, please download your W8 or W9 for your reference.

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Once you've completed the connection to Stripe, you can return to the Payout Profile and Tax Info page of your account at any time to update the Payment Processing Name. If you ever need to access your Stripe account, you can do so using the Go To Stripe button here as well. 

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The Payment Processing Name is what clients will see on their bank statements after they've made a purchase.

 

 

 

 

FAQs

What are 1099s?

1099 forms are federal income tax information forms used to report earnings and proceeds other than wages, salaries and tips (which are reported on the federal W-2 form). The forms are filed with the US Internal Revenue Service (IRS) and, if required, state tax departments.

 

Will I receive a 1099 form?

If you have not met the requirements of $20,000 USD AND 200 transactions over the course of the year, you might not receive a 1099 form and one won’t be generated for you unless you meet a separate threshold in your state. If your state has a filing threshold lower than $20,000 USD AND 200 transactions, you might receive a 1099 form.

You can check your state’s requirements here: View 1099 state requirements.

 

When will I receive my 1099?

Your 1099 tax form will be sent to you by January 31st (note: paper forms delivered by postal delivery must be post marked  by January 31st, but might take up to 10 additional business days). You will only receive a 1099 if you've reached the threshold.

  • By January 31st:
    • Your 1099 tax form will be provided to you by the payment processor used. Please allow up to 10 business days for postal delivery.
    • Your 1099 tax form will be filed with the IRS and relevant state tax authorities.
  • April 15th: IRS deadline to file taxes. You’ll need your 1099 tax form to file your taxes.

In January, we strongly suggest that you ensure all of your tax filing details and delivery preferences are up to date in Stripe Express. Your name, address and Taxpayer Identification Number (Social Security Number/Employer Identification Number) are of primary importance.

 

Why is Stripe requesting personal information like my Social Security Number?

Your Social Security Number is required to get your 1099 tax form properly filed with the IRS.

If you have earned enough to qualify for a 1099 tax form, the IRS requires your full details to be verified ahead of 1099 filing.

We understand you may have concerns about providing your full Social Security Number/Employer Identification Number when first claiming your account, given the sensitivity of this identifier. We take your privacy seriously and have enabled technical solutions to ensure that your personal information is secure.

 

My information has changed since I signed up for Zenfolio. How can I edit information?

Update your account information in the Account tab:

  • Under Stripe Express Account, you can update the email address and phone number used to log in to Stripe Express. Please note that only one contact method can be updated at a time.
  • Under Language preference, you can choose your preferred language for Stripe Express.
  • Under Payout and Professional Details, you can update personal and legal entity information and view your bank account or debit card information for payouts.