February statement withholding tax issue and correction
Royalty Statements published in February and the associated payouts were affected by a system error. The error, which has now been fixed, caused most Redeemed Credit sales to wrongly be reported as originating in the US. Since US source income is subject to a higher tax rate for contributors, the error resulted in extra tax being withheld from your February payments.
The source of your income from credits, and thus the amount of tax withheld, will be correct in your March 20th statement / March 25th payment.
The repayments for over-withheld tax have been handled in two ways:
Amounts up to $49.99 will appear on your March 20th statement, at the top of the Earnings Summary section and marked as “Payment Carried Forward-Non-US”.
Amounts greater than $50.00 are being paid to you directly, no later than March 25th, but will not appear on your statement. The remittance email for the payment you receive will have “Adjust US to NonUS transactions, Jan-17 iStock” in the description field. The email is sent from Oracle with sender details
MCPSVC@gettyimages.com and will not appear in Paypal or Payoneer.
This was a one-time error, affecting your January statement only. We’re sorry for any inconvenience this may have caused.
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