Note: Symphonic is not a legal or tax authority. We do not give legal or tax advice. Symphonic simply reports and provides information as we've been instructed to. Please consult a tax professional or legal authority for advice and direction.
The IRS requires any person or company to report earnings of at least $10 in royalties on a 1099-MISC to the recipient and the IRS. Please note: Corporations and SplitShare Payees will not receive 1099s.
When would I receive a 1099-MISC form?
1099-MISC tax forms are generally sent to US-based individuals or entities no later than January 31, following the end of each calendar year. If you earned less than $10 in royalties within a calendar year, you will not receive a 1099-MISC form. Please keep your email address up to date in your Symphonic Payment & Tax Details to avoid any delays in receiving your tax forms.
Please note: Due to royalty reporting timing, the calendar months of January - December correspond to the Royalty Summary months of October - September shown in your SymphonicMS account. For example, your earnings for the calendar year ending December 31, 2024, relate to the reporting period from October 1, 2023, through September 30, 2024.
Do I ever need to update the tax forms?
W-9 tax forms will remain valid unless there is a change of circumstance or address. It is your responsibility to advise us of these changes and to ensure your information is correct. You can make updates via the Symphonic portal; however, updates can only be submitted by the account owner and may be subject to review.
Do you keep copies of 1099-MISC forms from previous years?
If you need a digital copy of any previously issued 1099, please contact us using the email address associated with your Symphonic account and let us know what year(s) you need.
My 1099-MISC is incorrect! What do I do?
If you have received a 1099-MISC and believe the dollar amount, name, EIN, or Social Security is incorrect, please contact us immediately so that we can process a correction as needed.
Will you send 1099-MISC forms to my SplitShare payees?
No. Symphonic is not responsible for sending out 1099-MISC forms to your SplitShare payees. SplitShare Payees are clients of accounts distributed by Symphonic (Payor). Symphonic is making payments to SplitShare Payees on behalf of our Symphonic clients (Payors), as Symphonic only has a contractual relationship with our own client.
How Do I Reclaim My Backup Withholding?
If you are a US client and have had tax withheld and have since provided an updated W-9, it is possible to reclaim backup withholding as a tax credit when filing your income tax return. Symphonic cannot reclaim the funds on your behalf or re-deposit them back into your account. Please reach out to your tax adviser for more information.
Click here for more information about Form 1099-MISC.
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