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While Filmhub wants this to be easy for you, we do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors.
Overview
Filmhub is required under US tax code IRC 1441 to 1443 (Form 1042) to properly withhold taxes from your payment calculated according to treaty rates between the US & your country. But, you can claim that withholding back from the IRS. Here’s how it works:
- You submit your tax information
- We withhold the legally required tax amount from your payments
- We will send you a form 1042-s by March 15, every year. Using that form, you can file with the IRS to claim the withheld amount.
Understanding Withholding
Filmhub withholds taxes from your payment, calculated according to treaty rates between the US & your country. For a list of treaty rates, see here. Filmhub payments fall under category IV: motion picture and television royalties.
The amount withheld depends on the country you live in.
- For example, we are legally required to withhold 5% of payments to Australia and 10% of payments to Austria.
- If no treaty is in place between the US and your country, we are required to withhold 30% tax from your payments.
Claiming your withheld amounts
Before March 15, Filmhub will send you an IRS Form 1042-S, which includes your gross income, the tax rate applied to your payments, and the tax amount withheld.
In order to claim your withheld amounts, you will have to file with the I.R.S. Consult directly with your tax professional.