Photo by Nick Morrison on Unsplash
Understanding Medium's Year-End Tax Process for Writers
Understanding Medium's Year-End Tax Process for Writers
Understanding Medium's Year-End Tax Process for Writers
As the year 2024 comes to an end, Medium is preparing the necessary tax documents for its writers. Ensuring your tax information is up to date is essential to avoid delays or inaccuracies. Here’s everything you need to know about this year’s tax process, including key deadlines, forms, and how to manage your details effectively.
Step 1: Review and Verify Your Tax Information
To ensure you receive the correct tax form, it’s crucial to review your tax information by December 10, 2024. You can do this by visiting your tax submission page on Medium.
If your information is accurate, no additional action is required.
If changes are needed, follow the steps below.
Step 2: Updating Your Address and Tax Form
If your address has changed recently, make sure to update it properly:
Go to the first screen of the tax submission page and update your address.
Click NEXT to move to the second screen and submit a new tax form.
It’s important to complete both steps for the updates to be applied correctly.
Step 3: What Tax Forms Will You Receive?
Depending on your location and earnings, you’ll receive one of the following forms:
For US Writers
If you earned $10 USD or more in 2024, you’ll receive a 1099-MISC form.
This form will be issued by January 31, 2025, as per IRS requirements.
For International Writers
If you earned $0.50 USD or more in 2024, you’ll receive a 1042-S form.
This form will be sent by March 15, 2025.
Medium is legally required to report all royalty earnings over $0.50 USD to the IRS. These forms summarize your earnings for the tax year and provide details on what Medium reports to the IRS.
Note: For most US-based writers, no further action is typically needed for tax filing.
Step 4: How Will You Receive Your Tax Form?
Medium collaborates with Avalara-Track1099 to distribute year-end tax forms. Here’s how it works:
- Once your form is ready, Avalara-Track1099 will send you an email with instructions on how to electronically accept your form.
To accept the form electronically, you’ll need the last four digits/characters of your taxpayer identification number.
If You Didn’t Provide a Taxpayer Identification Number:
- You won’t receive an electronic form. Instead, your tax form will be mailed to the address you provided on file.
Common Questions and Additional Support
For more detailed information or assistance, you can visit Medium’s FAQ center.
Be proactive—updating your tax information on time can save you from future complications or delays.
By following these steps, you’ll ensure a smooth and hassle-free tax reporting process. Thank you for staying on top of this important matter and being part of the Medium community!
Reach us for your questions