No real post today, since I spent all day getting an EIN to stop Amazon withholding 30% of my royalties, and sending the required forms to Amazon.
As an author, if you haven’t already done this, you should! Following these instructions on Catherine Caffeinated, the process of getting an EIN is quick and painless! The most difficult part for me was finding the right time to make the call, and psyching myself up for it! (I hate phoning people, and this was my first international call ever!)
However, EIN in hand, I went to save my W-8BEN form to I could print it from my daughter’s printer, only to find Internet Explorer has an issue which means it won’t save pdf files! (Yes, I know, other browsers. I have my own reasons for choosing Internet Explorer, and I don’t want to get into the browser debate, thanks.)
Considered briefly swapping the printer over, remembered it was out of ink anyway, then had the brilliant idea to buy a new printer! (The old one was on it’s last legs, so it seemed a waste to buy ink for it when a new printer isn’t much more.)
Bought new printer, then took over an hour to set it up. (Why are these things never simple?), printed out my forms, took them all the way to the post office, and realised I’d left my wallet at home! It was around 4pm by now, and I wasn’t sure I could be bothered going all the way home, then back, that day.
Luckily, I found the $2.60 I needed in the glove box, so the letter got sent, and I didn’t have to deliberate over whether to spend the extra $40 to pay for express post. (OK, only kidding on that bit, didn’t even consider that much for express!)
So it’s done! Hopefully soon I won’t be giving Amazon that extra 30% for much longer! If you’ve been putting this one off too, I suggest you read the article. It’s so simple, you’ll be kicking yourself for not doing it sooner!
I’ve read about this before it’s such a pain, I wish they’d sort it out for international authors or let everyone do it online!
Yes, it’s a pity the online form is only available to those in the US. The call was pretty painless though, and that’s coming from someone who hates making phone calls!
I have that Catherine Caffeinated post flagged in my email, as it has been FOR MONTHS! I’m terrified of making the call. I even thought about asking my sister (who lives in the US) to do it for me, but then didn’t want to get in trouble with the IRS for impersonation and fraud. Luckily I’ve only sold about ten books in the US, so it hasn’t been an issue yet. You’ve inspired me to do it. No, wait, you haven’t. The thought of making that phonecall still makes me feel sick! (I don’t even call my mother, I text). Pathetic.
Apparently you can fax them. (The link is in the comments of the post.) If you’re not in a hurry, and aren’t intimidated by filling out forms, then that probably works just as well. I considered it, but when I looked at the forms, they intimidated me more than the phone call did.
I’m reading the article again now. I can’t believe I’ve had it there for a year! Maybe I’ll be braver now…
Psyched myself up to call and it turns out it’s 6am in Philadelphia right now… sigh!
I had that problem the first time too! You only have to wait an hour – you can do it!
This totally reveals me for the newbie I am and the fact that I haven’t published my book on amazon yet but what is the 30% withholding you are referencing?
It’s only an issue if you live outside of the US! I’m not totally sure what it’s for, but Amazon (and other retailers in the US) will hold 30% of your royalties for tax purposes. If your country has a tax treaty with the US, and you fill in the right forms, and have the right numbers, then they won’t withhold the tax. That’s how I understand it, anyway.
You can get an EIN online (I do it for our clients in our law office), but now that you have one, you’re set. Thanks for sharing this. Always great info on your site.
Unfortunately, the online method only works if you’re in the US. That’s what I was told, and what the FAQ on the IRS website says anyway?