If there are expenses, click on the line for Gambling Winnings. eWallets. Hi I just received the 1099-K from paypal for mainly depositing and withdrawing into paypal from casinos and sportsbooks. If your winnings are paid through PayPal, you may also get a Form 1099-K if you receive more than $20,000 in payments or have more than 200 transactions for the year. Do you think they send anything. As many as 149 million taxpayers could be. Affiliate Disclosure; Contact us; Find what come to your mind; How long does draftkings take to verify?Kentucky. W-2G, Certain Gambling Winnings: The W-2G form is sent to anybody who wins $600 or more in a single bet if the winnings are at least 300 times the wager. Just to make sure I understand, this is $600 net earnings on the year, right? So if I win $900 but lose $600 over the course of the year, I wouldn't get a 1099? Thanks! We would like to show you a description here but the site won’t allow us. Maryland then has five more levels that vary depending on how you file. Just fill out the W9 and worry about the 1099 if. You won't get in trouble for the missing form You can get in trouble if you don't report the income; With that in mind, here's how to handle things. Forms 1099-K, Payment Card and Third Party Network Transactions, issued to a payee with an Illinois address. " On the next screen, "Let's Work on Any Miscellaneous Income," scroll down and click the Start or Update button for the last topic, "Other reportable income. DraftKings is providing more than $1M in cash prizes to Reignmakers contests each and every week of the NFL season for its traditional Reignmakers contests. Form W-2G from DraftKings (just sharing) We will issue a W-2G form each time a player has a payout of $600 or more (no reduction for the wagered amount) and a return that is 300X the amount wagered. If you have a good year and bring home a net profit of $600 or more for the year, DraftKings will send a tax form to both you and the IRS. 9 a. We would like to show you a description here but the site won’t allow us. DraftKings and FanDuel throw a. The 1099 tax form information does not apply to our sportsbook players. 2. Their mailing address is as follows. Sports Available. You will need a bank account that is attached to the same credit card as you used when signing up for DraftKings. You can offset your gains with your losses. If you have lost your Form W-2G, you can contact the Gambling issuer (casino) and request a duplicate copy. With this form, companies like Upwork report the gross payments transacted between the client and contractor during a tax year, which is usually a calendar year. 95 each (state e-file available for $19. Ain’t much but I’m proud of these -I give out FREE picks and oftentimes I’m wrong. The 1099-K Issue. 1099-MISC; 1099-B; Other IRS Forms Required by the State of California: You may be required to file Form W-2- Wages and Tax Statement. Most personal state programs available in. Tessa. We would like to show you a description here but the site won’t allow us. 0 3,090 Reply. NOTE: The Gambling issuer (casino) sends a copy of your W-2G to the IRS to report your winnings. 1099-Misc = DFS: To jog your memory, for those playing DFS,. Don’t let it confuse you and instead focus on properly reporting your gambling income. Lastly, DraftKings is hosting a 50-person live final in New Orleans at the end of the season. Please call 208. Then tap the gear Settings icon. DraftKings makes money in many ways. If you make 55,000 crowns this year, that is an extra $100 you have earned. c. If your winnings are paid using a third-party platform like Venmo or PayPal, you may receive winnings reported on Form 1099-K. The odds for each pick are multiplied by one another to determine the odds for the Parlay. You'd stake $12 on New England to. I asked them to prove it showing the statute, code, regulation, etc. ; Enter all requested. Michigan has prepared the following session methodology which may be helpful when you offset gains and losses - you can do so on a per-day, per casino basis, but losses for a day go to itemized deductions while gains for a day flow through as income. What to do if you didn't get a 1099. Bookmark Icon. 100% Deposit Match up to $1,000 +. Users will receive the $150 instantly. You report fantasy-sports winnings as. When you ask for a bonus they get angry and rude. However, the $5,000 excess loss can’t be deducted in 2021 or carried forward. Per the email you must fill it out to continue to play on draft kings. Even if the game operator didn’t do its job and you didn’t receive a W-2G, that doesn’t mean you’re off the hook. We would like to show you a description here but the site won’t allow us. So if this is the case, you will require to submit your Social Security Number (SSN) for processing this. If you win $600 or more in a year, your DFS site should send you a 1099-Misc tax form. On the deposit screen, you'll be presented with deposit options for $25, $100, $250, $600 and an "Other" field where you can deposit any dollar amount from $5. It doesn't really matter how much you deposited or withdrew via PayPal. How Long Does It Take To Get Paid On Draftkings;. Betting on the DraftKings Sportsbook is currently only available in certain states. Do I enter it under 1099-Misc or Gambling Winnings?Don't have an account? apply. DraftKings charges a $1 entry fee to enter each contest with the winner taking home half of the pot. Betting on the DraftKings Sportsbook is currently only available in certain states. We would like to show you a description here but the site won’t allow us. This is standard operating procedure for daily and. You should only get a 1099 if you profited over the normal $600 figure. Feb-06-2021 03:07 PM. Please help : r/dfsports. Does DraftKings mail tax forms. Click the Start or Update button for the last topic, "Miscellaneous Income, 1099-A, 1099-C. A member of our support staff will respond as soon as possible. State e-File for business returns only available in CA, CT, MI, NY, VA, WI. And I will probably stop gambling until next year (just don't wanna lose it again). Before I get on to the different sports available at DraftKings, I’m just going to explain a little about the concept. Just got a 1099-K from PayPal for over $100k but I didn't actually win $100k on the gambling site. DraftKings launched in Ohio at that time. If you receive your winnings through PayPal, CashApp, Zelle, or Venmo, the reporting form may be a Form 1099-K. Which form it is can depend on how you withdraw your winnings. How to Claim This DraftKings $150 Promo. Note: Tax calculator assumed a standard deduction of $12,400 (single)/$24,800 (married) and does not include any municipal/local taxes. Get a free bet to use on Christmas day up to $50. Claim $150. Send your exclusive referral code to a friend, once they sign up. If you are a contractor, vendor, or payee of a business then failing to fill out a W-9 form may attract IRS penalties. In TurboTax (TT), enter at: - Federal Taxes tab (Personal in Home & Business) - Wages & Income. But what if you haven’t won that much? Well, keep reading because there’s more to it! Now, you might. Some of the fastest DraftKings withdrawal options include Play+, PayPal, online banking, and VIP preferred e-check (ACH/eCheck). Boston, MA 02116. We would like to show you a description here but the site won’t allow us. 0 1 464 Reply. In fact, apart from wages, whatever. Level 15. This is standard operating procedure for daily and traditional sports betting sites, and is one of the requirements for DraftKings, and sites like it, to stay in. DraftKings Help Center (US) Taxes. Click no, there was no W-2G. 26th Floor. If you receive your winnings through PayPal, CashApp, Zelle, or Venmo, the reporting form may be a Form 1099-K. Taxes. If you receive your winnings through PayPal, the reporting form may be a 1099-K. If there are expenses, click on the line for Gambling Winnings. That operating loss grew from -$72,000 on 31 March 2020 and -$25,000 on 30 September 2019. A 1099-k will be sent to the IRS only if you earned $600 or more during. It will typically be a Form 1099-MISC. Withholding is required when the winnings, minus the bet, are: More than $5,000 from sweepstakes, wagering pools, lotteries, At least 300 times the amount of the bet. the organizers have a legal obligation to send both you and the IRS a Form 1099-MISC. You'd also get back your initial $100 stake, for a total of $250, back into your pocket. The best place to play daily fantasy sports for cash prizes. Don’t worry too much about not receiving a 1099-NEC or 1099-K. A 1099-K does not specify the activities generating the receipt of funds, so the amount reported on a 1099-K could represent a blend of DFS income and other income. ; 1099-MISC, Miscellaneous Income: The 1099. Only 2021, around 1000 on Fanduel and 500 on Draftkings. To understand how an NFT sale will affect you during tax preparation, DraftKings suggests that you consult with a tax professional. First and foremost, smart investors understand that DraftKings is an online gambling company. The law, requiring payment platforms like PayPal to file Form 1099-Ks for anyone receiving over $600 (down form $20,000) threatened mass taxpayer confusion. Sportsbook and Casino users are required to provide their SSN for taxation purposes related to a reportable event. In years past they've been well past the 1/31 deadline for getting 1099s out the door, but in past years I've also seen stories that indicated Draftkings had received an extension on that deadline - I haven't seen those stories this year. Report. View tax information on gambling and the state lottery in Massachusetts. If you receive your winnings through PayPal,. A lesson here is recognizing the 1099-K triggering thresholds and the added complications that could arise when tax forms are issued from two different companies on the same activity. $1,500 or more from keno. Sometimes a Form 1099-K includes net profit that is also reported on a Form 1099-MISC from a fantasy sports site. We should mention that most bettors should have received their DraftKings 1099 forms in the mail after February 1st. Draftkings 1099 form for 2021. or you can send an email to [email protected]. Businesses must issue 1099s to any. 9% in 2018, 42. Posted on. DraftKings Casino Review. I will advise you to report net earnings of $1, but anything over $600 is what will be reported to the IRS. We have fielded several questions regarding the issuance of 1099-K. In TurboTax (TT), enter at: - Federal Taxes tab (Personal in Home & Business) - Wages & Income. Bookmark Icon. that we may send an IRS Form 1099-MISC or other appropriate form to any affiliate who earns Rewards greater than $600 (USD) in any given calendar year. - On the next screen, click yes. I deposited $$$ to DraftKings (A legal on online betting service) and withdrew some money back into my bank account through PayPal. This is particularly true if they use some form of third party institution to make your payment. The best place to play daily fantasy sports for cash prizes. Select a topic from the options above. What if you don’t receive a tax form? If you don’t receive a W-2 G or 1099 by mid-February, don’t panic — there’s a. Just got a 1099-K from PayPal for over $100k but I didn't actually win $100k on the gambling site. Form 1099-K is an IRS informational tax form used to report payments received by a business or individual for the sale of goods and services that were paid via a third-party network, often referred to as a TPSO or credit/debit card transaction. Draftkings PayoutDoes Draftkings Tax WinningsHow Much Does Draftkings Take From Winnings 2019That's how much revenue the daily fantasy sports industry in made in. 95). Make your first deposit!Yes, you’ll only be taxed on winnings, and only if it’s $600+ at year end. Incredibly, DraftKings’ operating loss exceeded the quarterly revenues of $70. Whether you report it or not, you need to be sure you keep detailed records of the back and forth of that $42K. So if a bettor makes 10 wagers of $1,100 each and goes 5-5 on those. If you meet the IRS threshold in a given calendar year, PayPal will send you a Form 1099-K in January of the following year, and file this form with the IRS by the required due date. If your annual net winnings exceed $600, then FD is required to file a 1099-MISC tax form. FD is very serious about protecting their gamers, and they will conduct anti-fraud. This material has been prepared for informational purposes only and. How do I enter my winnings from Draft Kings (Daily Fantasy Sports)? I received a 1099-MISC form. When will you receive your 1099? 1099 forms are also due to recipients on January 31. It was a lot of withdrawls that made the total go so high. We would like to show you a description here but the site won’t allow us. 0 3,090 Reply. When your net profits top $600, the site may send you a prompt to complete an electronic W-9 form to provide your Social Security number for IRS reporting. Gambling losses can only be deducted up to the amount of the gambling winnings. Regardless of the tax form you receive, as an individual you must report gambling winnings (including sports bets) on your Form 1040, Schedule 1, Line 8 , under “Other. New Jersey Income Tax withholding is based on the total amount of the prize won. If it turns out to be your lucky day and you take home a net profit of $600 or more for the year playing on websites such as DraftKings and FanDuel, the organizers have a legal obligation to send both you and the IRS a Form 1099-MISC. Affiliate Disclosure; Contact us; Find what come to your mind; How long do draftkings withdrawals take?We would like to show you a description here but the site won’t allow us. Gambling taxes are not something you should risk getting wrong. Gambling facilities are required to document your winnings with a Form W-2G under certain circumstances: $1,200 or more in winnings from bingo or slot machines. You must be 18+ to play Fantasy (19+ in AL & NE and 21+ in AZ, IA, LA & MA) and 21+ to wager on Sportsbook and Casino (18+ in NH, WY & KY). So how does DraftKings report your winnings to the IRS? When you request a withdrawal from your account, DraftKings will send you a 1099-MISC form detailing your gross proceeds for the year. Check:7-14 days with a $15 minimum. “Failing to report the prize as income is the surest way to get audited,” Rigley said. Feb-06-2021 03:07 PM. Some gambling providers will automatically give you one if you win more than $600. The only place I see where a 1099-MISC is applicable is Small Business/ Self employed which is not what my DRAFTKINGS form is from. These include: online banking. I understand that they will send the government and you a 1099 form if your winnings are above $600. Similarly, DraftKings advises that “[y]ou do have to pay taxes on your Cumulative Net Profit from fantasy sports. Boston, MA 02116-3748. 20 if you won both bets. Gambling Losses are reported on Form 1040 Schedule A as a Miscellaneous itemized deduction. Select “withdraw” and follow the instructions on the screen. If you won $5,000 on DraftKings, but loss $3,000 on Fan Duel, you would report $5,000 in gambling winnings and $3,000 in gambling losses. ($600 or not) No need to call people idiots, if this is. Click the Start or Update button for the last topic, "Miscellaneous Income, 1099-A, 1099-C. It spent $981. Quick question about taxes on online sportsbooks. What makes no sense is they can’t make a withdrawal of your winnings into your bank account which is tied into your DraftKings account after 90 days of your initial deposit. Thus, if you elect to have an annual session and bet on both DraftKings and Fan Duel, you will have two sessions. Edit; Sorry I was thinking this was DFSports. Still Need Help? Contact Support. Note: Many customer questions can be solved by reviewing articles available in the Help Center. Entering that # in TurboTax in the "other" income section (where it belongs) doesn't give you an option to select gambling losses to offset the "winnings". If you or someone you know has a gambling problem and wants help, call 1-800-GAMBLERWe would like to show you a description here but the site won’t allow us. Pools Pool rules, scoring, and ways to enter. The best place to play daily fantasy sports for cash prizes. " The answer is yes, your cumulative net profit is taxed, and DraftKings is contractually required to send a 1099 tax form to any player that nets of $600 in profit in a calendar year. If you’re paid through a third-party source (e. Genting mobile casino. Basically it is (balance on 2023-01-01) minus (balance on 2022-01-01) plus (all. Subject: Topic: -. Scroll down to: -Less Common Income. As a business owner, you have to. Select Account; Go to Tax Center; Select a form to review its detailsThe income listed on this form should be included by the taxpayer as income on their Form 1040. No, it is not necessary for you to file a MA return. Online gaming forums have a legal obligation to report annual winnings of at least $600 on Form 1099-MISC. I had messaged them about 10. At the moment, unfortunately, DraftKings is not profitable and is not positive in cash flow from operations, but they do expect to be adjusted EBITDA profitable in. Per the email that draftkings sent out, a w9 is required for all players. They will pay out up to $1 million on a variety of sports bets. Issuers of 1099's and W-2's can be from any state where a company has nexus which does not apply to the taxpayer. Expert Alumni Mark as New; Bookmark. PayPal is not permitted in all jurisdictions. You should receive yours by mid-Februrary. com. Uploading W2s/1099s on myconneCT is the department’s preferred method for W-2/1099 submission myconneCT is free, secure, and available 24/7. FS-2023-27, Nov. I would report the 1099-K on the other income line and describe it as "gambling income reported on 1099-K" and then subtract out. The answer is yes, your cumulative net profit is taxed, and DraftKings is contractually required to send a 1099 tax form to any player that nets of $600 in profit in a calendar year. The answer is yes, your cumulative net profit is taxed, and DraftKings is contractually required to send a 1099 tax form to any player that nets of $600 in profit in a calendar year. Sam McQuillan. g. I do not have any businesses, or am self employed. Re: PayPal 1099–k for online gambling. Go to draftKings. You could receive an inquiry for not reporting the income or for the details of your 'write-off'. The deadline for form 1099-MISC and 1099-NEC is January 31, and most other 1099s are due around the same time. The form reports the interest income you received, any federal income taxes. I have a 1099-MISC for DraftKings. 222 Berkeley St. *Note: DraftKings notes that some cards that may be used successfully to deposit to DraftKings' Daily Fantasy product may be declined by DraftKings Sportsbook when they meet the above criteria. Step 2 – Deposit Money. FanDuel will offer a maximum of $1 million on both soccer and NHL, but DraftKings only offers $250,000 for NHL and $500,000 for soccer. You now have 3,000. DraftKings does not permit the use of business accounts. Find your AGI. The reporting threshold is currently $20,000 for 200-plus transactions but will soon be reduced to $600 on any number of transactions in 2023. Herein, does DraftKings issue 1099? If it turns out to be your lucky day and you take home a net profit of $600 or more for the year playing on websites such as DraftKings and FanDuel, the organizers have a legal obligation to send both you and the IRS a Form 1099-MISC. (Optional) , and agree to be updated about DraftKings' products, news and promotions. By law, gambling winners must report all of their winnings on their federal income tax returns. If you cash out those winnings with PayPal, you’ll get a Form 1099-K instead. Your 1099 will be mailed to you, and available via the document center ( ), by the February 28th. It comes down to how much you earn in a financial year. Of course, the same information is sent to the IRS. Affiliate Disclosure; Contact us; Find what come to your mind; How long does draftkings take to pay?If you continue to win and do not report your winnings in your annual 1040 form, assuming you are from the United States, then you can expect a visit from the Internal Revenue Service (IRS). 21, 2023: 1099-R and 1099-Q forms mailed; April 18, 2023: Individual retirement account contribution deadline for 2022; April 18, 2023: Individual federal tax filing deadline; October 16, 2023: Individual federal tax filing deadline if you received an extension; Additional dates can be found in Investment Forms, Deposit Forms and Mortgage. DraftKings has requested and received an extension of time from the IRS to mail its 1099-MISC recipient copies. last updated June 01, 2019 12:53 AM. The payer will also send the same information to the IRS about your net profit, so make sure to report your winnings on your tax return. Don’t think that this is flying under the radar. See moreWe would like to show you a description here but the site won’t allow us. The 1099-W2G form provides a record of. S. See all 11 articles. 0 1 464 Reply. If it turns out to be your lucky day and you take home a net profit of $600 or more for the year playing on websites such as DraftKings and FanDuel, the organizers have a legal obligation to send both you and the IRS a Form 1099-MISC. When Does Draftkings Payouts. Myth: I sold one item on Ebay and made over $600. Consulting income, or non-employee compensation is a big category for 1099-MISC. DraftKings Review: Conclusion. m. This includes cash and the fair market value of any item you win. They’ll send you a 1099 for if/when you ever do; $85 you 100% do not. Otherwise, for 2022 winnings, the payer must send the form to you by January 31, 2023. Your 1099 will show you. Tax Department (617) 887-6367. All you need to do is register with DraftKings and make a $5 minimum deposit into your account. If you did not receive a 1099-R form, then your account may not have met the eligibility requirements described. Depending on the amount of your winnings, you may receive. Agree. Michigan does not withhold taxes on winnings from $601 to $5,000, but you must report these winnings to the IRS and the Michigan Department of Treasury. Most sportsbooks and casinos will begin withholding federal taxes from your winnings on payouts of $5,000 or more. - On the next screen, choose – Other reportable income. Sometimes a Form 1099-K includes net profit that is also reported on a Form 1099-MISC from a fantasy sports site. The amount of winnings should appear in Box 3, “Other income. to the IRS. Reply reply. Physical Bet Tennis 2023How long / By Perfect answer. $2,001 to $3,000: $50 plus 4% of the excess over $2,000. They typically issue 1099-MISC forms for users who have won more than $600 during the year. On your 2021 federal tax return, you must report the $10,000 of winnings as miscellaneous income. Facebook Marketplace is sending me a 1099 for $600+ in sales, but I’ve never sold anything. We would like to show you a description here but the site won’t allow us. Every time bettors lose a $1,100 bet, they lose $1,100. In addition to its online sportsbook, DraftKings has a retail location at the Hollywood Casino in Toledo. Alongside the cash prizes, DraftKings will be awarding prize packs of player card NFTs each week. Still have questions? Make a post. - On the next screen, you'll get blanks to enter the amount and a description. Since launching in the US, the brand continuously developed its products, adding. Many people wonder if they have to pay taxes on their winnings. If you meet the IRS threshold in a given calendar year, PayPal will send you a Form 1099-K in January of the following year, and file this form with the IRS by the required due date. The current DraftKings offer gives new customers $150 in bonus bets if they make a $5 moneyline wager. There is another way you can get hold of it- online at the DraftKings Document Center. We’re legally required to withhold federal taxes from sports wagering winning transactions as well as other qualifying casino game winning transactions when both of the following conditions are met: Winnings (reduced by wager) are greater than $5,000. DraftKings offers payouts via Paypal and check You can count on withdrawals taking seven business days to receive. FanDuel will offer a maximum of $1 million on both soccer and NHL, but DraftKings only offers $250,000 for NHL and $500,000 for soccer. (2005 limits) and 2. Online sports betting and daily fantasy sports are distinct products and regulated as such. Please be understanding when tailing”Step 2: Fill out your W-9. We’re legally required to withhold federal taxes from sports wagering winning transactions as well as other qualifying casino game winning transactions when both of the following conditions are met: Winnings (reduced by wager) are greater than $5,000. To find out which states, check out our guide. Playing responsibly, player limits, self-exclusion, and cool-off periods Reporting Taxes Withheld. SOLVED • by TurboTax • 14888 • Updated October 02, 2023. Since winners need this info to prepare their tax returns, they will usually receive a copy of Form W2-G in January of the following year. Gambling income is almost always taxable income which is reported on your tax return as Other Income on Schedule 1 - eFileIT. Personal state programs are $39. 000000 Casino Winnings: $0. If any taxes on your. DraftKings on Jan. PayPal withdrawals usually take up to two days for funds to appear in your PayPal account, while online. Gambling income is almost always taxable income which is reported on your tax return as Other Income on Schedule 1 - eFileIT. Ohio’s legal online sports betting markets opened in January 2023. Still have questions? Make a post. Do I need to report that I made these winnings out of state since they are based in MA? Topics: TurboTax Deluxe Online; posted June 1, 2019 12:53 AM. If you never got one, contact your sportsbook or casino. Keep those for your records for at least five years. I can go on. We would like to show you a description here but the site won’t allow us. Visit Website. $600 or more for the year playing on websites such as DraftKings and FanDuel, the organizers have a legal obligation to send both you and the IRS a Form 1099-MISC. Draftkings Sportsbook Promo Code 1 050 Free Bonus March 2022Here is my draftkings summary for 2022 SB Wagers: $9973. The form provides the necessary information to the hiring party so they know if they need to later report your payments to the IRS via the 1099 form. However, if you haven’t received yours, don’t worry. You'll get a 1099 at the end of the year if you had more than $600 in net wins. Herein, does DraftKings issue 1099? If it turns out to be your lucky day and you take home a net profit of $600 or more for the year playing on websites such as DraftKings and FanDuel, the organizers have a legal obligation to send both you and the IRS a Form 1099-MISC. The answer is yes, your cumulative net profit is taxed, and DraftKings is contractually required to send a 1099 tax form to any player that nets of $600 in profit in a calendar year. 3. - On the next screen, click yes. PayPal is not permitted in all jurisdictions. 2. If to need help locating get DraftKings Irs Form 1099, we have one easy orientation till show you wherever it is and why and how to fill thine in. Then, place your first real-money wager on any DraftKings. Major fantasy sports sites and apps (DraftKings, FanDuel, BetMGM, etc. The deadline for form 1099-MISC and 1099-NEC is January 31, and most other 1099s are due around the same time. Long story short, Paypal has been issuing 1099-K's for gambling withdrawls because for some reason their system doesn't take into account your deposits into those same gambling sites. Hi, I started sports betting about 2 weeks ago for fun, and so far I've won around $450 on Draftkings and around $580 on Fanduel. You should receive yours by mid-Februrary. I deposited $$$ to DraftKings (A legal on online betting service) and withdrew some money back into my bank account through PayPal. Not reporting can be costly, triggering penalties and interest. Here "net winnings" includes all bonuses etc. Which means I actually lost money on the year, but my taxes are showing. W-9 just means they have your tax info (social) so they can issue you a 1099 if you do go over $600 in profit. It’s only been around since 2012, yet it’s a major player in the gaming industry due to its creative ideas. Do you receive a 1099 for gambling winnings? No, you should receive Form W-2G for gambling winnings. 1099-INT reports interest income typically of $10 or more from your bank, credit union or other financial institution. The answer is yes, your cumulative net profit is taxed, and DraftKings is contractually required to send a 1099 tax form to any player that nets of $600 in profit in a calendar year. Form W-2G from DraftKings (just sharing) We will issue a W-2G form each time a player has a payout of $600 or more (no reduction for the wagered amount) and a return that is 300X the amount wagered. Paypal:3-5 days with a $1 minimum. When Does Draftkings Pay. DK has until 1/31 to send 1099 forms to the IRS. The W-9 is only one page long and is pretty simple to fill out.