If you're a US model working with Centro Team (Envisionext), it's crucial to understand the tax documentation process involving W-9 and 1099 forms. A W-9 form will be requested from you, and subsequently, you will receive a 1099 form for non-employee compensation (akin to a W-2 but for independent contractors) in January from noreply@tax1099.com.
Note: only earnings of $600 or more necessitate a 1099 form, and it must also be sent to the IRS.
This process applies exclusively to US Models and Influencers utilizing ACH, Wire, or check as payment methods and is not required for corporations (Corp, Ltd, Inc). Always ensure to report your 1099 income to avoid potential penalties and remember that the W-9 form only needs to be updated if your address changes. Check your email for form requests from support@tax1099.com, and be aware that payouts may be held pending receipt of your completed form.