IRS And Sync Fees

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  • This topic has 2 replies, 1 voice, and was last updated 4 years, 1 month ago by Michele Vice-Maslin.
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  • October 22, 2020 at 7:59 pm #36075
    Vasim
    Participant

    Hi all

    I’m with a US library which I sent a email about any potenial sync fees yet. They said that in January 2020 the owner filed for a IRS report which is just being processced now. Would love to know how IRS works in regards to a library paying syncs.

    Thanks in advance

    October 24, 2020 at 8:06 am #36081
    Vasim
    Participant

    Found what I was looking for. https://musiclibraryreport.com/forums/topic/tax-question/

    Thanks

    October 31, 2020 at 12:09 pm #36125
    Michele Vice-Maslin
    Guest

    Sync fees are regular taxable schedule C income

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