If you’ve received a B Notice, all you need to do is correct your tax information. If you don’t correct your tax information, the law requires Reverb to withhold 24% of payments made to your account. You may also be subject to a $50 penalty from the IRS.
How do I fix my tax information?
To update your tax information:
- Head to your Tax ID page.
- Select Edit Tax Profile.
- Re-enter your TIN, legal name, and address.
If you receive a backup withholding notice from Reverb, you may also receive a copy via USPS, as required by the government. For more information on B Notices, visit the IRS website.
I'm not a US-based seller—why did I receive a B Notice?
If you aren't located in the US and you received a B notice, it's because you're paid in USD. We'll need a Form W-8 BEN on file to remove you from the 1099-K obligation. Reach out to firstname.lastname@example.org more information.