Disclaimer: As an independent contractor, you are responsible for keeping track of your earnings and accurately reporting them in tax filings. If you have any questions about what to report on your taxes, you should consult with a tax professional. Vast.ai cannot provide you with tax advice nor can we verify the accuracy of any publicly available tax guidance online.
Keep in mind: Vast.ai does not automatically withhold taxes. We calculate the subtotal of your earnings based on the date the earnings were deposited.
Vast.ai does not provide any tax documents or tax advice to hosts that reside and have their machines located outside the United States.
If you earned $600 or more in 2023 on the Vast.ai platform as a host, Vast.ai will send a 1099-MISC or 1099-K form to you either through our partner Stripe Connect, PayPal or another method. If you have a question or issue, email us at contact@vast.ai.
If you use Wise to receive payments from Vast.ai, we will need your tax information in order to send a 1099 form. Here is the portal to submit your W9 tax information: https://vastai.app.box.com/f/bff8fca18a3145beb34e8075ffa5dec3
We will be sending emails to anyone who has not submitted tax information. Non compliance could result it suspending payouts.
Once the W9 form is submitted and received, we will send out the 1099 form to the email that received payments on Wise.
PayPal will issue 1099-K tax forms to all income paid through their platform. For more information, see: https://www.paypal.com/us/cshelp/article/help1131 https://www.paypal.com/us/cshelp/article/help970
For hosts paid via Stripe Connect, Stripe will send email to collect tax information including SSN/EIN and then issue a 1099-MISC form by January 31st. See details in the below FAQ. The machine rental earnings will be reported as BOX 1 RENTS on the 1099-MISC form.
Stripe Express allows you to update your tax information, manage tax forms, and track your earnings. If you’re working with Vast.ai and earned $600 or more (within the calendar year in the US), Stripe will send an email inviting you to create an account and log in to Stripe Express.
Stripe uses the email information associated with your [insert platform name] account to send you an invitation to sign up for Stripe Express.
If you’re unable to find that email, head to this Support site page where you can request a new link to be sent to your email. If you still are not able to locate your invite email, please reach out to Vast.ai support for help updating your email address and getting a new invite email.
Your 1099 tax form will be sent to you by January 31st, 2024 (note: paper forms delivered by postal delivery might take up to 10 additional business days).
Starting November 1st, 2023: Stripe will email you instructions on how to set up e-delivery and create a Stripe Express account. If you haven’t already, you’ll need to complete these steps to access your 1099 tax form electronically. Before mid January: Confirm your tax information (e.g., name, address, and SSN or EIN) is correct via Stripe Express. By January 31st, 2024: Your 1099 tax form will be available to download through Stripe Express. Your 1099 tax form will be mailed to you if you don’t receive an email from Stripe or don’t consent to e-delivery. Please allow up to 10 business days for postal delivery. Vast.ai will file your 1099 tax form with the IRS and relevant state tax authorities. April 15, 2024: IRS deadline to file taxes. You’ll need your 1099 tax form to file your taxes. In January, we strongly suggest that you make sure all of your tax filing details and delivery preferences are up to date in Stripe Express. Your name, address, and Taxpayer Identification Number (Social Security Number /Employer Identification Number) are of primary importance.
If you earned enough to need a 1099 form in 2023, you should have received an email from Stripe by mid-January 2024. Emails for pre-filing confirmation will be sent out starting Nov 1, 2023 - this is separate from the email you’ll receive when your form is filed by the platform in January.
If you can’t find an email from Stripe, it’s possible that:
You may not have received an invitation for other reasons, such as:
If you earned less than $600 over the course of the year, you may not receive a 1099 form and one won’t be generated for you unless you meet a threshold in your state. If your state has a filing threshold lower than $600, you might receive a 1099 form.
You can check your state’s requirements here: View 1099 state requirements.
Vast is located in California. We do not do anything with/about VAT currently.
Vast is located in California. We do not do anything with/about VAT currently.