Campaign creators in the USA with pre-sale campaigns or campaigns that include an exchange of goods/services and whose campaigns raise more than $20,000 online from more than 200 donors will receive a 1099-K tax form.
Form 1099-K is an IRS information return used to report certain payment transactions to improve voluntary tax compliance in the USA. Charitable and personal fundraising campaigns in the USA are not taxable. They are considered non-taxable gifts.
Please note that receiving a 1099-K form will require providing information such as legal name, residential address, and tax identification numbers.