Why we collect tax information

Federal tax law requires certain entities to obtain taxpayer information when specific payment thresholds are met. To ensure compliance with these regulations, we must collect your tax information once the total value of incentives or rewards you receive reaches the applicable reporting threshold during a calendar year. 

Federal Reporting Requirements 

Under Internal Revenue Service (IRS) regulations, compensation or reward payments that meet or exceed $2,000 (this was earlier set to $600, from 2026 this has been increased to $2,000) within a single calendar year may be subject to federal income reporting. When our internal records indicate that your cumulative incentives have reached this threshold, you will be required to provide valid tax information before additional rewards may be claimed or issued. 

This information is necessary for the preparation and issuance of Form 1099, which is used to report certain types of income to both the IRS and the taxpayer. A Form 1099 must be issued for each year in which your compensation meets the federal reporting threshold. As a result, you will be asked to update or re‑confirm your taxpayer details annually when the threshold is reached, to ensure accuracy and regulatory compliance. 

Any personal information collected for tax reporting purposes is handled in accordance with applicable federal privacy and security standards. Your information is used solely for tax reporting and related compliance activities. It is not shared, disclosed, or used for any purpose beyond what is expressly required by law to ensure accurate filing with the IRS.