Can Catalant advise me on how to file my taxes?
Catalant does not provide tax or legal advice to experts or firms completing projects through the Catalant platform. Please consult with your tax advisor for assistance with your taxes.
Will Catalant issue tax forms, such as a 1099, to experts?
As a part of its operation of the Expert Marketplace, Catalant functions as a third party settlement organization, enabling clients to send funds to experts. In the United States, third party settlement organizations such as Catalant are required to file a Form 1099-K with the Internal Revenue Service for a service provider if payments to that service provider (i) exceed $20,000 and (ii) exceed 200 transactions within the calendar year. As such, Catalant will only file a Form 1099-K (and provide a copy to the expert) for any expert based in the United States who (i) is paid over $20,000 via the Catalant platform and (ii) participates in over 200 separate projects within the prior calendar year.
Further information on Form 1099-K and related tax reporting requirements can be found on the IRS FAQs website at: http://www.irs.gov/uac/General-FAQs-on-New-Payment-Card-Reporting-Requirements.
Will clients issue tax forms, such as a 1099, to experts?
When a US-based client has made payment a properly classified independent contractor through a third party settlement organization such as Catalant, the client is not required to issue a 1099 form to a contractor. To learn more, please review the IRS FAQs on third party settlement organizations here: http://www.irs.gov/uac/General-FAQs-on-New-Payment-Card-Reporting-Requirements.
I'm an expert who was payrolled in 2019. Will Catalant provide me with a W-2?
No, you should receive a W-2 from your employer.
Where can I find a history of my payments via Catalant?
See this article for step-by-step directions for how to find your payment history through Catalant.