To ensure compliance with tax regulations, we have implemented a system that tracks your ENDVR earnings in relation to tax form submission. Below are important details to help guide you through the process and also steps on how to submit your form!
Important note: The Overrun feature needs to be activated by the brand, and some brands may choose not to enable it. If it’s not activated, users won’t be able to exceed the threshold for their country, and their earnings will be capped at that limit. This means any approved entries surpassing the threshold won’t be paid, but will still count towards other rewards.
FAQ
What is the Threshold amount of my country?
Threshold is set to $599 in the US and to $499 in Canada
❗The threshold is set on an annual basis and resets every January 1st.
What happens if I go over the threshold?
We recommend submitting your form once you reach 85% of the threshold. Any entries approved after surpassing the threshold won’t qualify for a cash reward, even if the W9 is submitted afterward. To ensure you receive payouts for entries beyond the threshold, it's crucial to submit the form as soon as possible.
Do I need to submit a Tax Form each year?
Once you submit a tax form for a brand, you won't need to provide a new one in subsequent years for the same brand, as the information is saved for future use.
You only need to submit a new tax form if your address has changed. For more information, please contact support.
Do I need to submit multiple tax forms?
A tax form is required for each brand where you reach the threshold. So, if you exceed the threshold for two brands, you will need to submit a tax form for each one.
Is the threshold for one brand or all my earning on Endvr?
The threshold is set to a specific amount for each brand individually, not based on your overall earnings on the platform. This means that each brand have its own threshold that you must meet before requiring a tax form submission.
Example
You are earning from Three different brands: Brand A, Brand B, Brand C, and Brand D. Each brand has a threshold of $599 for tax form submission. Here's how it works:
Brand A: Your earnings total $500. Since you have not reached the $599 threshold, no tax form is required for Brand A at this time.
Brand B: Your earnings have reached $620, surpassing the $599 threshold. You must submit the tax form for Brand B. Earnings will stop at or above $599 for this specific brand only, and anything over that won't be shared with you. To avoid delays, submit the form when you reach 90% of the threshold, especially if completing a mission.
Brand C: Your earnings total $580, so no tax form is required for Brand D yet. However, it's strongly recommended to submit the form early to avoid delays and ensure you continue receiving rewards. Sending it before reaching the $599 threshold is advisable due to potential processing delays.
In this example, you only need to complete and submit the tax form for Brand B, as it is the only brand where you have surpassed the $599 threshold.
Am I notified before I've reached the Threshold?
When your earnings reach 85% of the required tax reporting threshold, you will receive an email notification. This is to alert you that a tax form is required. This email will include the information on how to submit the Form.
You should submit your form as soon as you receive the communication, at 85% to ensure you receive payouts for entries beyond the threshold.
Click here for more information on the 1st Notification
Please note that the email is being sent to the address used to create your account. If you don't have access to this email, please contact support to update it.
What happens if I reached the Threshold?
Once you reach 100% of the threshold, you won’t receive cash earnings until the required tax form is submitted and acknowledged. Therefore, it’s important to submit your form as soon as you receive the notification at 85% to ensure you receive payouts for entries beyond the threshold.
For example, if you've reached the threshold and three of your entries are approved before the tax form is acknowledged, you won’t receive any cash rewards for those entries. However, once the form is acknowledged, any subsequent entries, like the 4th and 5th, will be paid out.
Click here for more information on the Earnings Halt
Should I expect something from the Brand?
Yes, you should expect to receive something from the brand, such as a T4A for Canadian users or a 1099 for U.S. users, at the start of the new year. This will be sent to the address you provided in the form.
No Timeframe for Submission
There is no specific deadline for submitting your tax form. However, once you reach the 100% threshold, your ability to earn cash rewards will be paused until the form is acknowledged. You can still submit entries and receive non-cash rewards during this time, but cash reward will be withheld.
Tax Form is Not Mandatory to Share
You are not obligated to share your tax form if you choose not to. However, if you do not submit the form, you will not be able to earn additional money once the 100% threshold is reached.
That being said, you will still be eligible to receive other types of rewards, if they are available in the campaign (Codes, Grand prize, etc)
Question? Feel free to reach out to our amazing support team via the In-App chat or email at support@endvr.io