Summary: This guide explains what your tax summary is and how to access it.
What are tax summaries?
Tax summaries provide a summary of the income earned during an income year and the taxes paid on your behalf. Tax summaries are provided for both US sourced and Australian sourced income.
There are 3 types of tax summaries:
- Form 1099 (US Citizens, or persons that do not provide details regarding tax residence);
- Form 1042 (non-US Citizens); and
- Australian withholding tax payment summaries.
The IRS requires Envato to provide you with either a Form 1099 or a Form 1042 for income which is deemed to have a US source (subject to certain exceptions).
The Australian Tax Office similarly requires Envato to provide an Australian payment summary for Australian sourced income.
This information may be used when completing your tax return (and potentially claiming a credit for any taxes paid on your behalf), so make sure you give them to your tax advisor/accountant.
How do I access my tax summary?
Tax summaries are available electronically from your account settings, but we’ve made a slight change in how you access them to help protect your information.
Previously the ‘Tax Summaries’ option was available for everyone from the Author Tools menu in your account settings once you were logged in. Now, you will need to enable Two-Factor Authentication (2FA) before this option is visible, as well as update your preferences in ‘Tax Information’ - also available under Author Tools.
Please follow these steps to view your tax summary
- Once you’re logged into your account, go to your settings and under the “Author Tools” section on the left, click on Tax Information.
- At the top of the Tax Information section you will be able to ‘opt in’ to view your online Tax Summary by ticking ‘Access Digital Tax Summaries’
Once you’ve completed the above steps, you will then need to enable 2FA by doing the following (skip this step if you already have it set up):
- Go to https://account.envato.com/
- Click on Two Factor Authentication
- Press ‘Enable’
- Using an authentication app (on your iPhone or Android device), scan the QR code
- Once prompted, enter the numerical code shown in your app
- Click ‘Enable’
- Download your backup codes and click ‘Done’
Under Author Tools, your Tax Summaries should now be available for you to view.
Please note: You can opt-out of having your tax summary available digitally at any time, as well as disabling 2FA, however, we don’t recommend this.