All monetizing content creators on YouTube will start facing a deduction of nearly a quarter of their total earning in wake of withholding tax from June this year.
A statement issued by the Google said that it may begin 24 per cent withholding US taxes on earnings generated by creators from viewers in the US as early as June 2021.
“All monetizing creators on YouTube, regardless of their location in the world, are required to provide tax info. Please submit your tax info as soon as possible. If your tax info isn’t provided by May 31, 2021, Google may be required to deduct up to 24% of your total earnings worldwide,” read the statement.
How to submit tax info to Google
You can follow the instructions below to submit your U.S. tax info to Google. Note that you may be asked to re-submit tax info every three years.
- Sign in to your AdSense account.
- Click Payments.
- Click Manage settings.
- Scroll to “Payments profile” and click edit next to “United States tax info”.
- Click Manage tax information.
- On this page you’ll find a guide that will help you to select the appropriate form for your tax situation.
If you have more questions, you may be able to find their answers on Google’s Frequently Asked Questions (FAQ) page here.
