Prize winnings above $600 in a tax-year are taxable by U.S. law.
TallyUP! reports all cumulative cash winnings above $600 to the U.S. Internal Revenue Service (IRS). If you win more than $600 in cash prizes, you will be sent a W-9 form to the email address you've entered for cashing out to use in completing the 1099-Misc tax form.
Cashouts will then be processed for payment once the W-9 form is completed. We will only require you to fill out the W-9 form once per tax year.
Any other questions about taxes and your TallyUP! winnings should be directed to a tax professional..