Everything you need to know about being an independent contractor

IRS code states that businesses, including 326energy, are required to file and issue a Form 1099-MISC to customers who receive gross payments of over $600 USD in a calendar year through R.F.Queue.

To ensure that you are aware of the required reporting duties, we have composed the following FAQs. After reviewing the FAQs, we recommend you consult your tax advisor to asses the implications of form 1099-MISC reporting.

326energy will track the payment volume of your account(s) to check whether your payment volume exceeds $600 in a calendar year:

Prior to receiving your first commission check from 326energy, you will be asked to provide your tax ID number, such as a Social Security Number (SSN) or Employer Identification Number (EIN) and mailing address by submitting a W-9.

If you cross the IRS thresholds of $600 in a given calendar year, 326energy will send Form 1099-MISC to you and the IRS for that year.

If you have a SSN or are eligible to have a SSN, then you are required to provide that to 326energy for Form 1099-MISC reporting. If you are not eligible to have a SSN, you should obtain an ITIN from the IRS and provide it to 326energy. You can visit the IRS website (https://www.irs.gov/uac/about-form-w7 ) to learn more about the ITIN application process.

If you do not provide your tax ID number: Social Security Number (SSN), Employer Identification Number (EIN), or Individual Tax Identification Number (ITIN) after we’ve requested it, we will hold back your commission payments.

All commission payments will be made once you provide your tax ID number.

No. Only customers that exceed the IRS threshold of $600 USD will receive Form 1099-MISC. Customers exceed the IRS thresholds when they receive over $600 USD in gross payment volume for their commission in a calendar year.

If you feel you crossed the thresholds for reporting and did not receive a Form 1099-MISC from 326energy, you should email contact@326energy.com for assistance.

If you need to correct or update your W-9, please contact 326energy for assistance at contact@326energy.com.