Hi @Luminary and @Cuckoorico - sorry for the delay in getting back to you on these. Here you go!
We will continue to offer swift bank transfers (as well as PayPal, etc). It sounds like you’re referring to something different? We’re currently investigating ACH transfers and other similar US offerings, but don’t have a firm view yet on which options we’ll make available.
All US authors, regardless of where they are living, will need to complete a W-9 Form in order to avoid 28% backup withholding on all sales.
This is because Form W-9 defines a US person (for US federal tax purposes) as:
- An individual who is a US citizen or US resident alien, or who satisfies the substantial presence test,
- A partnership, limited liability company, corporation, company or association created or organized in the United States or under the laws of the United States,
- An estate (other than a foreign estate), or
- A domestic trust (as defined in Regulations section 301.7701-7).
If a valid W-9 has been submitted, then no withholding tax will be applied.