Print Tue, Mar 29, 2016 - 06:21 PM
Please note that for 2015, payments made with a credit card or payment card and certain other types of payment, including third party network transactions, must now be reported on Form 1099-K by the payment settlement entity (PSE) and are not reported on Form 1099-MISC. As such, payments you received from us exclusively through PayPal in 2015 will not be reported on a Form 1099-MISC by Archieboy Holdings LLC (our parent company). Depending on the amount and number of payments you received from PayPal, you may receive a Form 1099-K directly from them.
You are welcome to download your sales reports from eBookIt.com (Client Area > Sales Reports) to assist in determining the income you may have received from us. You'll want to reconcile the statement we provide to what was actually received in your PayPal account (e.g., some authors did not have a PayPal account set-up, and when we attempted to pay them through PayPal, they did not respond to the message from PayPal encouraging them to claim the funds). Our sales reports do not currently show the method of payment (which would be PayPal, unless otherwise arranged), or if the payment was received/settled. It is my understanding that even if you do not receive a 1099 or similar, you are still required to report and pay tax on any income received. I suggest checking with your accountant or qualified tax professional for guidance regarding your reporting requirements.