Tax Statement Basics

Why am I receiving a 1099 or 1042-S tax statement?

If you received payment from UnitedMasters for streaming or download royalties in 2023, end-of-year tax documents are being generated by our payments partner, Trolley, and sent to you in accordance with US tax regulations.

If you filled out a W9, a Form 1099 should be sent to you no later than 1/31/24; if you filled out a W8BEN, a Form 1042 should be sent to you no later than 3/15/24.

If you have not received your end-of-year tax documents yet, but think that you should have, please reach out to us via our contact form.

How do I find my tax statement?

If you selected e-delivery when you originally set up your Wallet, you will receive an email from noreply@unitedmasters.com with the subject line “Your End of Year Tax Statement is ready” and a download link.

If you prefer to download your tax statement from the UnitedMasters app, select the Wallet tab and choose “Payment Settings” from the “...” menu. If you scroll down you’ll be able to see and download any tax statement that is ready for you.

If you selected postal mail when you originally set up your Wallet, you will receive your tax statement via mail.

(If you selected e-delivery when you set up your Wallet, but would like to prefer to change that setting for the future, you can do so from within the Wallet section of your UnitedMasters account, by visiting Payment Settings from the “...” menu. Additionally, if you selected postal mail, your tax documents should be available for download digitally using the instructions above.)

Why do my total earnings shown in Wallet not match the amount shown in my tax statement?

Your tax statement will only reflect download or streaming royalties that you received in 2023, while the “Total” or “All Time” earnings figure in your Wallet will reflect all of the funds that we’ve ever received in connection with your music (and you can read more about this here).

You can also access each of your monthly royalty statements in the Wallet, by following these instructions.

Please also note that, if you received an advance from our partner, beatBread, or any synchronization payments in 2023, you will be receiving separate end-of-year tax documents for this income.

That said, if you think that the amount shown in your tax statement is wrong, please don’t hesitate to reach out to us via our contact form and we’ll be happy to look into it.

Why does my tax statement show a withholding amount?

When you filled out your tax form, our payments partner, Trolley, automatically applied tax withholding, as required by US tax regulations, based on the information that you provided.

For instance, tax withholding might have applied:

• Because you did not check the box declaring that you were not subject to backup withholding if you filled out a W-9.
• Because your country of residence does not have an income tax treaty with the United States if you filled out a W-8BEN.  (You can find a list of countries that have income tax treaties with the United States on the IRS website: https://www.irs.gov/businesses/international-businesses/united-states-income-tax-treaties-a-to-z.)

In any event, please be assured that this is not a fee being charged by UnitedMasters.

We are not authorized to give you tax advice, so we recommend that you consult a tax professional about any questions regarding your tax status, but if any amounts were incorrectly withheld by our payments partner due to an error on the tax form that you submitted:

• You can submit a new tax form, with the correct information, in your Wallet at any time by tapping into the Wallet and then tapping “Payment Settings” from the “...” menu.
• You can claim any overpayment resulting from this error to your local tax authority (if you filled out a W-8BEN) or to the IRS on your next tax return (if you filled out a W-9).

If you have any technical issues submitting a new tax form, please reach out to us via our contact form.

I heard from a friend who already received their tax statement. Why haven’t I received mine yet?

The easiest way to check if you’ve received your tax statement is to log in to the UnitedMasters app, select the Wallet tab, and choose “Payment Settings” from the “...” menu. If you scroll down you’ll be able to see and download any tax forms that are ready for you. 

While you’re visiting Payment Settings, you can double-check that the information you provided us is correct, and make sure you’ve got a W-9 or W-8BEN tax form shown with a green “reviewed” or “active” badge. 

If you need to make any changes to your tax form, please reach out to us via our contact form.

Why does my tax statement show a withholding amount?

By law, UnitedMasters may need to withhold taxes from your earnings depending on the tax information you’ve provided when you set up your Wallet, and based on whether the country you reside in and the country where your streams originated in have an active tax treaty with the United States. This withholding can be as much as 30% of your earnings in some cases depending on the country of origin.

If you’re a UnitedMasters artist who has provided valid tax information for a country outside of the United States you will only have taxes withheld on your earnings from streams that originated within the US. Your earnings from streams that originated outside the US will not have taxes withheld. You should still always consult with a tax professional about your personal tax requirements on any music royalties earned. 

Your local income tax laws may still apply to your earnings.

If you’re wondering if your country has a tax treaty with the United States, please see this link.

What if I need to correct the tax information that I’ve provided UnitedMasters?

If you need to update the tax information you’ve provided us, you’ll need to log in to the UnitedMasters app, choose the Wallet tab and choose “Payment Settings” from the “…” menu. Tap or click on “+ Complete a Tax Form.”

Please be aware that it is your legal obligation to provide accurate tax information.

If you have any other questions or need additional assistance, please let us know by submitting a request for support.