I am a 13 year old seller, and I want to start a Gig coaching and playing with people in video games. I am wondering, since I am 13, is the W-9 form legally binding and do I have to fill it out with legitimate information? I am not sure what name my income tax goes under, I don’t know my SSN, I don’t know my EIN or my taxpayer identification number, what am I supposed to do here?
If you don’t know the proper information, you should ask your legal guardian(s). In terms of the W-9 itself, you are allowed to fill it out since the W-9 isn’t a legal contract. A legal guardian isn’t required but encouraged (definitely consult them). It’s important that your name be on it since you’re the one making the payment to the government.
Do note, though, that you may not be making enough to have income taxes collected. Make sure you research that.
is it legally required that I fill out the W-9?
Well, a company can request that you fill out a W-9, and I believe Fiverr has requested that all U.S. sellers do that. So yes, in this case, it is required.
I have just asked my parents about it, and they said that I am not old enough to fill out a W-9 form. What exactly does it do and why do I need to fill it out?
You can research further on the internet for the intricacies, but a W-9 is basically a tax form used to confirm a person’s name, address, and taxpayer identification number (TIN) for employment or other income-generating purposes.
Fiverr has started asking U.S. sellers to do it so that Fiverr can provide your information to the U.S. tax authorities should it need to.
I’m pretty sure your account will get disabled if you don’t fill out the W-9 form for Fiverr by the deadline stipulated, but if your parents think you don’t need to fill it out, I’d open a ticket with CS to have questions answered for your specific case.
Thank you. One last question; being thirteen, do I have to fill everything out on it truthfully, or even fill it out at all, or can I say that no, I am not a U.S. Person as I am legally not old enough to have the capacity to contract? I am a U.S. Citizen, by the way.
Firstly, no matter your age, you have to fill things out truthfully.
Secondly, you are a U.S. person even if you’re not legally old enough to have the capacity to contract. Since a W-9 isn’t a contract, though, this isn’t really relevant.
First off… if you’re only 13 and you’re needing to worry about this stuff, I think things are going to work out in the long run so don’t sweat it.
@graphtersawyer and others on this thread are correct though. Have all the funds pointed to a legal guardian’s PayPal or bank account, and come tax time I’m sure (can’t remember the form #) there’s a under 18 form.
Similar things are done for kids that contribute or assist with family businesses. I’m pretty sure there’s a legal hours cap technically.
Best advice is once you’re earning enough money to have it matter, just consult a tax professional in your state.