As a freelancer on Contra, it is important to understand the tax laws in your own country and any country where you are receiving income. We suggest consulting with a tax professional or doing research on the specific tax laws in your country and the US to ensure you are in compliance.
Nonetheless, our payment partners do provide assistance with 1099s and W8-BEN's depending on your location. See below for more on this.
U.S. Based Independents
Contra's payment processor, Stripe, issues 1099 forms to eligible U.S. individuals who meet the IRS threshold for that tax year. If you qualify, your 1099 will be emailed to you by January 31st.
If you do not meet the IRS threshold, a 1099 will not be officially created or filed on your behalf. However, we can provide a draft document upon request - just reach out to hello@contra.com for this!
Independents Outside of the U.S.
If you are based outside of the U.S., there is no responsibility on your end to complete a W8-BEN form.
This is handled by Stripe or Persona, depending on your location. Your only responsibility is to provide accurate information during the initial wallet setup on Contra.
FAQ's
Can I edit information on my 1099?
Can I edit information on my 1099?
Your 1099 can only be modified once it is accepted by the IRS. Once the IRS accepts the filling, just let us know and we can modify the information for you!
Is my tax information shared?
Is my tax information shared?
The tax information collected when verifying your identity is not shared with any institutions. It is simply collected and stored on Persona for identity verification purposes.
Why is my 1099 income higher than expected?
Why is my 1099 income higher than expected?
This is because Stripe sends a single 1099 to individuals for all activity they have had through Stripe that year. This means that if you had earnings from another platform on Stripe, it was added together with your payouts on Contra.
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I need help with something else
I need help with something else
For other tax questions, please consult with a tax professional.