Exempt Payee / Backup withholding

GameLabs222GameLabs222 Member Posts: 197
edited April 2014 in Working with GS (Mac)

I've been reading around the web / forums and I'm getting mixed responses as to what I need to choose to fill out my banking info. I am an individual, I have not started an app company.

I essentially want to set up my app income the way you would when working as an employee, where they (Apple) hold a certain amount for taxes, and come tax time you either owe less or get a tax return. People say that if you are behind on your taxes, to select 'subject to backup withholding' (as if telling Apple, "Hey the IRS may come and knock on my door anytime now.") which sounds ridiculous if you ask me. But others say it just means they hold some of your revenue for you come tax time, like an employer would. Then, reading online, it explains individuals should usually check 'subject to backup withholding' and that 'exempt payee' is really only for charitable organizations, government organizations, etc.

I'd like Apple to hold taxes for me, I'm up to date on my taxes and no I don't work for the government. Since there seems to be confusion not just on my part, but also on the forums as to what these options are really for, can someone clear this up, clearly?

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