To ensure compliance with tax regulations, we have implemented a system that tracks earnings from ENDVR users in relation to tax form submission. Below are important details to help guide you through the process.
We recommend reading the Tax Form FAQ to understand how users will be affected.
Important note: The Overrun needs to be activated, as it is turned off by default in your dashboard. If not activated, the user will be unable to surpass the threshold, and their earnings will be limited to the threshold.
Pro Tip : Make sure that the team member responsible for the Tax Form section of the brand dashboard has access. Click here to learn how to invite your team member. Please note that only Admins and Owners will be able to access the Tax Form tab and confirm receipt of the form.
Activate the Tax form
Step 1 - Go to your Brand Settings
This will allow your brand to send tax forms to any user who exceeds their yearly earning threshold while ensuring compliance with tax reporting requirements
Note : The form is sent to the user when they reach 90% of the threshold. This provides the user with time to complete and submit the form, as well as allowing your team time to acknowledge it.
Learn more here about the Email notification that is being sent to the user
Step 2 - Select the country for which you would like the tax form to be activated.
Tax Form is only available for Canada (Threshold of $499) and The United States (Threshold of 599$)
Step 3 - Fill out the required information.
Contact Email : This is the email(s), that will be notified when a user marks the form as "Sent". We recommend marking the form as "Sent" only if it has not been Acknowledge within a week
"Marking as Sent" - A reminder sent to the brand after the user has already submitted their tax form.
Drive URL : This should be a secure drop location with access restricted solely to your staff.
Here are a few suggested options, though this list is not exhaustive : (Please note that we are affiliated with any of the suggestion)
- Send Safely: https://www.sendsafely.com/
- Drop Vault: https://dropvault.app/
- Pipe File: https://pipefile.com/
Mailing Address: This will be the address where you wish to receive the form. It can be the same for both countries or different, such as one address for Canada and another for the US.
Acknowledging the receipt of the tax form submission.
We recommend acknowledging the form at least once a week, though more frequent acknowledgments are encouraged. This will enable the user to continue earning without interruption and provide an additional incentive, encouraging further submissions.
Please find the instructions below for acknowledging the form:
Step 1 : Navigate to the Tax Form tab in your dashboard.
Step 2 : Acknowledging the reception of the form
When you receive a form from a user, you can proceed to select "Mark as Received."
If you accidentally select the wrong user, you can reverse the action by selecting "Mark as Unreceived."
Note : Brands will need to send the T4A form for Canadian users and the 1099 form for U.S. users to the address you provided once available in the start of the new year.
If there is an issue with the received form, please contact support at support@endvr.io. They will be able to reach out to the user in question. Kindly provide the user’s name and store details when contacting support.