Filling out w-9 form???

B

bnina81

New member
Hello, I'm kind of a new here, but I today I won a $100 virtual Mastercard from the Citi Bank Dive into the Digital instant win game. They sent me an email to verify my eligiblity by filling out a IRS W-9 form. Has anyone have to fill out a W-9 before? Is it legit if its asking for this info? I would have to fill in my social security. Thank you in advance :o



curmudgeon gives good [as always!] advice here;

curmudgeon said:
The threshold for IRS mandatory reporting is $600 & above. For amounts of $599 and below reporting is not required. Some firms prefer to collect the info regardless, that way, they're covered when they take a tax deduction. Like Amy said, ALL sweepstakes winnings are taxable and you're required to report them and pay taxes on them regardless of the dollar amount. Most of us ignore this requirement for wins of $599 or less, since there is usually no 1099 issued. If you're audited & caught you'll be required to pay taxes and penalties on the amount ($200) not reported.
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here;

curmudgeon said:
Sponsors of Promotion Games of Chance offering and awarding prizes valued at $600 or more should be aware that they are responsible to obtain a signed, legible copy of an IRS form W-9 from every winner that they issue a prize to. This means that any eligible entrant who has been verified as a prize Winner you issue a prize of $600 or more to, will need to fill out a W-9 form for you to keep on record, regardless of the number of times in the course of a tax year the same person wins a prize. In addition, if one person wins multiple lower valued prizes within the same year, which when added together total $600 or more, they too will be required to complete a form W-9.

The above is from Marden-Kane Digital Promotions. There's more & you can find the full article at: Sweepstakes Winners: W-9's and 1099's - Marden-Kane
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and here;

curmudgeon said:
You should also know about quarterly estimated tax payments. If your sweepstakes win is large enough, you may be required to pay an early tax payment (you can't wait till April) or pay a penalty. If you won a $25,000 car, this tax provision would probably apply. You'll find more info here: https://www.irs.gov/businesses/small-businesses-self-employed/estimated-taxes
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ALSO [ty kdh58!] be aware:

kdh58 said:
Some companies want your SS# for tax purposes even if the prize you've just won is less than $600, in case you win another prize from them during the same calendar year, and when combined those prizes are over $600. So they are just coverig their bases.
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And from lk107 [ty!]:

lk107 said:
Congratulations on your win!

Yes, this is legit. It is not uncommon for sweepstakes sponsors to ask for this kind of information for tax purposes; usually this is done with bigger prizes but some sponsors do it for smaller prizes as well. If you feel unsure or uncomfortable, you can also ask the sponsor about giving this information.

The 2 articles linked below will provide you with more information about this.

5 Weird Things that Aren't Signs of Sweepstakes Scams
and
Why Sweepstakes Need Winners' Social Security Numbers
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Last edited by a moderator:
Congratulations on your win!

Yes, this is legit. It is not uncommon for sweepstakes sponsors to ask for this kind of information for tax purposes; usually this is done with bigger prizes but some sponsors do it for smaller prizes as well. If you feel unsure or uncomfortable, you can also ask the sponsor about giving this information.

The 2 articles linked below will provide you with more information about this.

5 Weird Things that Aren't Signs of Sweepstakes Scams
and
Why Sweepstakes Need Winners' Social Security Numbers
 
SS# Yah or Nay

hi all, century 21 send me a message about winning in their adulting contest but when i read the affidavit for release , they wanted my social security number. am happy that i won but for 200 gc is it worth it? and they want the affidavit notarized too .. i won 500 gc before and 200 cash none of them ask for SSN. im grateful for the win but this is the 1st win that ask for my SSN i could understand if its worth 1000.. any thoughts on this one? thank you and happy sweeping!
 
bettycardwell - You can ask if they gave you boiler plate instructions because $200 is below their required reporting threshold, and they *might* agree.

I turned down a $20 ARV win once because they wanted a notarized [affidavit] affy but any sweepstakes we win is taxable by the IRS, so they can ask for your SSN & a notarized affy.




bettycardwell said:
hi all, century 21 send me a message about winning in their adulting contest but when i read the affidavit for release , they wanted my social security number. am happy that i won but for 200 gc is it worth it? and they want the affidavit notarized too .. i won 500 gc before and 200 cash none of them ask for SSN. im grateful for the win but this is the 1st win that ask for my SSN i could understand if its worth 1000.. any thoughts on this one? thank you and happy sweeping!
Click to expand...
 
The threshold for IRS mandatory reporting is $600 & above. For amounts of $599 and below reporting is not required. Some firms prefer to collect the info regardless, that way, they're covered when they take a tax deduction. Like Amy said, ALL sweepstakes winnings are taxable and you're required to report them and pay taxes on them regardless of the dollar amount. Most of us ignore this requirement for wins of $599 or less, since there is usually no 1099 issued. If you're audited & caught you'll be required to pay taxes and penalties on the amount ($200) not reported.
 
1099 forms for sweeps wins!

I just received a 1099 from all my wins! I talked to my tax agent and you cant miss including these when you file your taxes. The IRS wont forget ..... I never thought about the fact that I might get one but I guess you need to pay taxes on these wins. Although what you have to pay may be small you must inclide the 1099 form. Mine came directly from AMAZON.COM... It showed over 668.00 in wins and no federal tax taken out on any of it.
 
Sponsors of Promotion Games of Chance offering and awarding prizes valued at $600 or more should be aware that they are responsible to obtain a signed, legible copy of an IRS form W-9 from every winner that they issue a prize to. This means that any eligible entrant who has been verified as a prize Winner you issue a prize of $600 or more to, will need to fill out a W-9 form for you to keep on record, regardless of the number of times in the course of a tax year the same person wins a prize. In addition, if one person wins multiple lower valued prizes within the same year, which when added together total $600 or more, they too will be required to complete a form W-9.

The above is from Marden-Kane Digital Promotions. There's more & you can find the full article at: Sweepstakes Winners: W-9's and 1099's - Marden-Kane
 
kdh58 makes a good point:

kdh58 said:
Some companies want your SS# for tax purposes even if the prize you've just won is less than $600, in case you win another prize from them during the same calendar year, and when combined those prizes are over $600. So they are just coverig their bases.
Click to expand...
 
kdh58 makes a good point:

kdh58 said:
Some companies want your SS# for tax purposes even if the prize you've just won is less than $600, in case you win another prize from them during the same calendar year, and when combined those prizes are over $600. So they are just coverig their bases.
Click to expand...
 
I am new here but not to sweepstakes (finally had enough of that 'other site')
I have had to fill out an affy for a $30 book! I simply put the last 4 digits of my SS# and they were fine with that. Anything under the $600 threshold I do the last 4 no more.. ;) Good Luck all, and Happy Turkey Day everyone!
((I plan on getting the paid sub here and making this my new home))
 
Welcome to SA & then to PLUS amsamm!

If your focus is on sweeping, not drama, you will love it here :cool:

amsamm said:
I am new here but not to sweepstakes (finally had enough of that 'other site')
I have had to fill out an affy for a $30 book! I simply put the last 4 digits of my SS# and they were fine with that. Anything under the $600 threshold I do the last 4 no more.. ;) Good Luck all, and Happy Turkey Day everyone!
((I plan on getting the paid sub here and making this my new home))
Click to expand...
 
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