Once you've redeemed $600 or over for the financial year, you'll need to provide us with some information for an IRS 1099 Tax Form
Why Do I Need to Do This? 🤔
While we understand the apprehension in providing personal information, we are required by the IRS to report the winnings we've paid out to our players.
Rest assured that your SSN is completely secure within our partner SumSub's database. SumSub's database is highly secure and is compliant with industry leading security qualifications.
What if I don't need to pay taxes? ✖️
The 1099-MISC forms are information returns which we are required to file for all redemptions over the filing threshold on behalf of our players.
Please note that no tax has been withheld from these redemptions.
We advise you to seek your own tax advice as to whether this is taxable income for your specific case as we cannot provide any advice regarding your personal tax filings.
How long will my redemption be on hold? ⏳
If you've redeemed $600 or over for the calendar year, you'll need to fill out our 1099 form before we can process any more redemptions.
This means we will hold any pending redemptions until you have completed this form.
Please reach out to our Customer Support team if you have any questions or hesitations! ❤️