Each year, all winners who have won $600 USD or more over the previous year must provide updated address and social security details to OwnersBox. These details will be used to allow OwnersBox to comply with tax regulations and may be shared with appropriate tax authorities.
In compliance with the United States Internal Revenue Service regulations, OwnersBox may be required to submit a Form 1099-MISC, Miscellaneous Income (Form 1099) to the Internal Revenue Service (IRS) or another appropriate form to any person who wins in excess of $600 (USD) on the Site (winnings less entry fees) in any given year.
Depending on the jurisdiction in which you reside, OwnersBox may require you to complete a Form W-9, Request for Taxpayer Identification Number (TIN), and Certification and/or additional tax forms. This information will be used to file Form 1099 with the IRS.
OwnersBox reserves the right to withhold (from your existing account balance and/or from future net winnings) any amount required to be withheld by law. You remain solely responsible for filing and paying all federal and other taxes in accordance with the laws that apply in your local, state, province, and/or country of residence.