Providing W-9 information for tax purposes

All U.S. GigSalad members who receive booking payments to their bank account (via direct deposit or check) must provide us with their W-9 tax information so that we can issue the proper tax forms, if necessary.

⚠️ Update November, 2024: the IRS has announced a postponement of the $600 reporting threshold. For 2024, the IRS requires GigSalad to report transactions when the amount of total payments is more than $5,000. For 2025, the threshold is reduced to require reporting transactions when the amount of total payments is more than $2,500.

Why?

The IRS requires third-party processors like GigSalad to collect a Taxpayer Identification Number (TIN) for every account holder. We collect this with a digital Form W-9. Then, at the end of the year, we use Form 1099-K to report to the IRS for everyone who reaches a certain earnings threshold.

As a part of the American Rescue Plan law passed in 2021, Congress lowered the earnings threshold from $20,000 to $600. As noted above, for tax year 2024 this threshold is $5,000.

We cannot generate a Form 1099-K to send to the IRS or to you, the taxpayer, without first collecting your tax information via Form W-9. You will be prompted to provide it before being sent a booking payment. You should add your tax info now to avoid payment delays!

How to submit a W-9

To make this process quick and easy (and to save some trees) we have built the W-9 form into the GigSalad control panel so you can fill out everything through your account. 

To provide your tax info: 

1

Log in to your control panel and go to Account.

2

Choose Tax Info from the menu.

3

Complete all necessary information, read the certification details, and consent to electronic delivery.

4

Click Submit Information.

🔒 Note: The information you provide through this form is encrypted upon submission and then stored in a secure data center. If you have any concerns about completing the form, please contact us.

Updating your W-9 info

If any of your tax details change, you can return to the Tax Info page in your Account to update and re-submit your W-9 at any time. 

The previous information you provided will already be populated for your convenience, with the exception of your social security or employer identification number (your TIN). Because that information is often sensitive, we keep it hidden for security purposes. You will need to re-enter your TIN each time you update your W-9. 

About Form 1099-K

At the start of each year we use the W-9 tax information we've collected to generate a Form 1099-K for each applicable GigSalad member from the previous calendar year. These forms will be sent directly to the IRS and an electronic copy will be provided to applicable members through their control panel.

You can find your current and past Form 1099-K documents for download on the Tax Info & Documents page within your control panel.

Note for PayPal users: A Form 1099-K will only be issued to U.S. members who receive payments via direct deposit or check. We will not issue Form 1099-K to members who receive payments via PayPal. PayPal will issue their own Form 1099-K to applicable users.

Frequently asked questions:

• What happens if I do not submit a W-9?

  For tax year 2024, if your GigSalad earnings reach $5,000 and you have not provided us with your W-9, your payments may be delayed while we attempt to collect your tax information. If we still can't get the info or you provide us with incorrect info, your payments will be subject to a 24% backup withholding as required by the IRS. 

• What if Form W-9 is not applicable to me?

  For some GigSalad members, such as certain U.S. residents who are foreign citizens, collecting W-9 tax information is not required. If you believe you are exempt from providing Form W-9 tax info to GigSalad, then please contact us.

• Why was I never asked for this information before?

  In prior years, the IRS reporting threshold was much higher. It only mattered for a small number of members who we would reach out to specifically. Since the threshold has been lowered, it is becoming applicable to essentially every member of GigSalad. Given the IRS guidelines and assuming no future changes in the law, we ask for it from every potential payee as a best practice and an aspect of fraud prevention.

• Why are other platforms I use not asking for this information?

  You must provide your TIN to any service that sends you payments. If other platforms do not require it, they likely use a third-party company to process payments. In those cases, that third-party company will collect your W-9 tax information instead and send the appropriate Form 1099-K documents, such as PayPal or Stripe.

• Where do I access or download my Form 1099-K?

  You can download your Form 1099-K document in PDF format for the current and prior years within your control panel on the Tax Info & Document page.

• Why are the totals on my Form 1099-K different than my GigSalad payouts page?

  Your 1099-K reflects the gross payment volume processed through GigSalad on your behalf. This means it shows the total amount of money paid for your bookings before any fees were deducted—and it doesn’t account for any refunded amounts. It's also based on the month the transaction occurred, not the month you were paid.

  The GigSalad Payouts screen displays your net earnings. That’s the money you took home after platform and processing fees were deducted. Because of this difference, the two totals may not match.