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 for my country?
The threshold is set to $599 in the US and $499 in Canada.
The threshold applies per brand, not to the total amount earned across ENDVR.
❗This threshold is set annually and resets every January 1st.
What happens if I exceed the threshold?
We recommend that you submit your tax form once you reach 85% of the threshold. Any entries submitted once the threshold is reached will not qualify for a cash reward.
Payouts for approved entries will resume once the tax information has been received and APPROVED by the brand.
Do I need to submit a tax form each year?
Once you submit a tax form for a brand, you don’t need to submit a new one in subsequent years for that brand, as your information is saved for future use.
A new tax form need to submitted if your legal name, address, or TAX ID number changes.
Do I need to submit multiple tax forms?
A tax form is required for each brand where they reach the threshold. So, if they exceed the threshold for two brands, they will need to submit a tax form for each brand.
Is the threshold based on one brand or all my earnings on ENDVR?
The threshold is set individually for each brand, not based on your overall earnings on the platform.
Each brand has its own threshold that you must meet before requiring a tax form submission.
Example:
You earn from four different brands: Brand A, Brand B, Brand C, and Brand D, each with a $599 threshold.
Brand A: Your earnings total $500. Since you haven't reached the threshold, no tax form is required.
Brand B: Your earnings total $620. Since you’ve surpassed the threshold, submit the tax form for Brand B. Earnings above $599 for Brand B won’t be paid, but to avoid delays, submit the form once you reach 85% of the threshold.
Brand C: Your earnings total $580. No tax form is required yet. However, it's advisable to submit the form early to avoid delays.
Brand D: Earnings are also below the threshold.
In this example, you only need to submit a form for Brand B, where you’ve exceeded the $599 threshold.
Am I notified before I reach the threshold?
Yes, when your earnings reach 85% of the required threshold, you’ll receive an email notification alerting you that a tax form is required.
You should submit the form as soon as you receive the notification to ensure they continue receiving payouts for entries beyond the threshold.
What happens if I reach the threshold?
We recommend that you submit their tax form once you reach 85% of the threshold. Any entries submitted once the threshold is reached will not qualify for a cash reward. Payouts for approved entries will resume once the tax information has been received and APPROVED by the brand.
Should I expect something from the brand?
Yes, you should expect to receive a T4A (for Canadian users) or a 1099 (for US users) at the start of the new year, sent to the address you provided on the form.
Is the tax form mandatory to share?
You are not required to submit tax forms. However, without a completed form on file, you will be unable to earn additional cash rewards after reaching 100% progress in a campaign.
That said, you can still submit entries and may be eligible for non-cash rewards, such as prize codes or grand prizes, if offered. Should a user qualify for additional prizes, they will need to submit the necessary tax information in order to receive them.
Questions?
Feel free to reach out to our amazing support team via in-app chat or email at support@endvr.io.