U.S. Income Reporting & Tax Identity Collection FAQ
Due to Internal Revenue Service (IRS) regulations, U.S. third-party settlement organizations and payment processors, including United States Wholesale, are required to file Form 1099-K for U.S. taxpayer sellers who meet the following thresholds in a calendar year:
- More than $20,000 in unadjusted gross sales, and
- More than 200 transactions.
If you do not meet both of these thresholds, you will not receive an IRS Form 1099-K.
You can provide your information to United States Wholesale by clicking here to use our self-service Tax Interview process that will allow you to provide your tax payer information and upload your completed IRS Form W-9.
How do I update my tax information and legal business name?
To update your tax information, you must fill out our Tax Interview again.
To update your legal business name go to Settings in your Vendor Dashboard
I am a U.S. taxpayer. What information do I need to provide to United States Wholesale?
By completing the Tax Interview you will be providing United States Wholesale the appropriate tax identity in the form of a W-9.
For U.S. taxpayers, a TIN is required by the IRS for the administration of tax laws. In most cases, your TIN is either an Employer Identification Number (EIN) or a Social Security Number (SSN).
I am a foreign Vendor and not a U.S. taxpayer. Do I need to provide any information to United States Wholesale?
Yes. However, you can only sell on unitedstateswholesale.com if you have a registered business and an active ship-from and return address in the United States. Foreign businesses without an active US address are prohibited from selling on unitedstateswholesale.com and shipments to US buyers from outside the United States is strictly forbidden. A violation of these terms will result in permanent account termination and cancellation of payments.
I am not going to come close to hitting the reporting threshold. Why does United States Wholesale require my tax identity?
All Vendor on untedstateswholesale.com, regardless of the number of transactions they have in a calendar year, are required to complete the Tax Interview before being approved to sell to avoid fraud and to make sure that we can maintain a safe place for doing business.
I have provided my tax identity information. How long will it take to see if it is valid?
After you provide or update your tax identity information, we will provide the information to the IRS. This process normally takes around 2-3 business days. If we find your information does not match IRS records, we will send you an email with instructions on how to proceed. If you choose to mail your hard copy W-9 document instead of filling out our online form, we will require 10-15 business days to process upon receipt.
The validation process can sometimes take up to eight weeks from the time United States Wholesale receives your information, either electronically or via mail, if you checked the box that states “I have received my EIN/SSN within 60 Days” while taking the tax interview.
Important: Information in this document does not constitute tax, legal, or other professional advice and must not be used as such. If you have other questions, please contact your tax, legal, or other professional adviser.
