# 1099-MISC for tax year 2022 **URL:** \ **Category:** Node Operators\ **Created:** [February 24, 2023, 8:01pm UTC](https://forum.storj.io/t/1099-misc-for-tax-year-2022/21568 "2023-02-24T20:01:32Z")\ **Posts on this page:** 7\ **Page:** 2
**Author:** ![Pac](https://storj.bcdn.literatehosting.com/user_avatar/forum.storj.io/pac/32/6053_2.png) [@Pac](https://forum.storj.io/u/Pac)\ **Post date:** [February 26, 2023, 2:42pm UTC](https://forum.storj.io/t/1099-misc-for-tax-year-2022/21568/21 "2023-02-26T14:42:46Z")
And also, is there a threshold for foreigners too? ---
**Author:** ![heunland](https://storj.bcdn.literatehosting.com/user_avatar/forum.storj.io/heunland/32/6076_2.png) [@heunland](https://forum.storj.io/u/heunland)\ **Post date:** [February 26, 2023, 3:53pm UTC](https://forum.storj.io/t/1099-misc-for-tax-year-2022/21568/22 "2023-02-26T15:53:38Z")
I will ask our VP of Finance about if there is a threshold for submitting W-8BEN. However, to be on the safe side, I would recommend Foreign Contractors to submit this form in any case, as their earnings may vary from year to year. ---
**Author:** ![heunland](https://storj.bcdn.literatehosting.com/user_avatar/forum.storj.io/heunland/32/6076_2.png) [@heunland](https://forum.storj.io/u/heunland)\ **Post date:** [February 27, 2023, 5:05pm UTC](https://forum.storj.io/t/1099-misc-for-tax-year-2022/21568/23 "2023-02-27T17:05:07Z")
I have confirmation now that it is optional to submit the W-8BEN for foreign contractors if their earnings are below $600. However, it doesn´t hurt to submit it cause your earnings may exceed the treshold in the future 🙂 ---
**Author:** ![Pac](https://storj.bcdn.literatehosting.com/user_avatar/forum.storj.io/pac/32/6053_2.png) [@Pac](https://forum.storj.io/u/Pac)\ **Post date:** [February 27, 2023, 5:32pm UTC](https://forum.storj.io/t/1099-misc-for-tax-year-2022/21568/24 "2023-02-27T17:32:27Z")
Alright thanks for the feedback. > [@heunland](#): > > it doesn´t hurt to submit it Well… All that paperwork is never a breeze to fill-in, especially for non-natives. I’m far from earning $600/year with my nodes anyway. But I get your point. So my understanding is that above $600 of Storj income, some is kept by Storj to pay a U.S. tax? And on top of that, my country taxes any crypto to euro conversion at 30% rate. And SNOs are soon gonna get paid less because of [SNO's please don't buy anything](https://forum.storj.io/t/snos-please-dont-buy-anything/21592) Wow. Not blaming anyone here 🙂 Just thinking out loud and really wondering if all that is worth it, in the end. ---
**Author:** ![Knowledge](https://storj.bcdn.literatehosting.com/user_avatar/forum.storj.io/knowledge/32/10681_2.png) [@Knowledge](https://forum.storj.io/u/Knowledge)\ **Post date:** [February 27, 2023, 5:40pm UTC](https://forum.storj.io/t/1099-misc-for-tax-year-2022/21568/25 "2023-02-27T17:40:38Z")
US Tax law is complicated, to say the least. If a company pays a contractor more than $600, they have to send them a 1099, and that is filed with the Internal Revenue Service. It used to be a 1099-MISC but I think they changed it to 1099-NEC for contractors. NEC stands for something like Non Employed Contractor. Anyway… If you are in the United States, the IRS is then aware that you were paid this amount, so you have to file it as income when you file your taxes. The tax you pay on that is dependent on a lot of factors. You might pay nothing. You might pay a good percentage of it t the IRS. Tax brackets, deductions, total earnings, it is all a factor and everyone’s situation is different. ---
**Author:** ![heunland](https://storj.bcdn.literatehosting.com/user_avatar/forum.storj.io/heunland/32/6076_2.png) [@heunland](https://forum.storj.io/u/heunland)\ **Post date:** [February 27, 2023, 5:46pm UTC](https://forum.storj.io/t/1099-misc-for-tax-year-2022/21568/26 "2023-02-27T17:46:25Z")
As long as a foreign contractor is not a U.S. person and the services are wholly performed outside the US, then no Form 1099 is required to be sent to them and no withholding is required. The W-8BEN is just a way for Storj Labs to be able to show the IRS in case of audit why we did not send a 1099 to this particular SNO. ---
**Author:** ![Pac](https://storj.bcdn.literatehosting.com/user_avatar/forum.storj.io/pac/32/6053_2.png) [@Pac](https://forum.storj.io/u/Pac)\ **Post date:** [February 27, 2023, 6:05pm UTC](https://forum.storj.io/t/1099-misc-for-tax-year-2022/21568/27 "2023-02-27T18:05:10Z")
Ah, okay. Thanks for this clarification 🙂 👍 [Previous page](https://forum.storj.io/t/1099-misc-for-tax-year-2022/21568.md?page=1)