Originally Posted by
IamHydro
I got an email requesting that I fill out a submit an IRS W-9 form.
The email wasn't specific, but listed a bunch of survey organizations, which I suspect in my case was e-rewards.
Has anyone received this?
Obviously one should comply with income tax laws. However, I question how they determined I exceeded the $500 threshold, and the "value" they assigned to hotel and air points.
Curious of the takes of others on this, the ramifications of not submitting a form, and so forth.
Had some experience with this taking surveys for cash with a different provider (though probably part of the same group). Of course, there it was easy to determine value, but I think you can bet that like other providers/partners they are valuing them at the full value (around 2.9 cents for airline miles as I recall) that the airlines and hotels value them at.
When I had this for the cash surveys, they sent me the W-9 request as I was approaching the $500 threshold. I did go through it, and I got a 1099-Misc.
But as far as the repercussions if you don't submit the form, you can be pretty sure they'll just stop giving you rewards. Then there's no tax issue, and no liability for them paying you without a form.
Since it is November, the easy way out if you don't want to incur tax liability is to just hold off until January 1, which will reset the clock.
FTF