What are the Tax Liabilities?
In the USA, Participants will be personally responsible for any and all federal, state and/or local taxes resulting from acceptance of a reward. The redemptions of Points and receipt of rewards with a fair market value exceeding $600 per calendar year constitutes a taxable benefit for the Participant. Should the value of the rewards (product cost without shipping and tax costs) received exceed $600 per calendar year, the IRS requires reporting such individuals on Form 1099-MISC. Therefore the Administrator will issue the Form 1099-MISC directly to each Participant for whom the value of rewards received equals or exceed $600 per calendar year. Participant agrees to supply its Social Security Number solely for this purpose. Neither the Sponsor, nor the Administrator will take responsibility for the payment of these taxes and neither does in any case assume this liability. The Form 1099-MISC will be sent by the Administrator to the Participant on or before January 31 of the year following
