{"id":2949,"date":"2025-04-29T14:17:01","date_gmt":"2025-04-29T14:17:01","guid":{"rendered":"https:\/\/www.colossusfantasy.com\/help\/?p=2949"},"modified":"2025-04-29T14:18:42","modified_gmt":"2025-04-29T14:18:42","slug":"tax-information","status":"publish","type":"post","link":"https:\/\/www.colossusfantasy.com\/help\/tax-information\/","title":{"rendered":"Tax Information"},"content":{"rendered":"\n<p><strong>1.1 Your responsibilities<\/strong><\/p>\n\n\n\n<p>The Internal Revenue Service (IRS) requires a completed 1099-MISC form from Players who have accumulated $600 or more in net winnings (NOT total payouts) for the calendar year (January 1 &#8211; December 31).<br><\/p>\n\n\n\n<p>If our records show you have exceeded $600 in net winnings for the calendar year, we will send your 1099-MISC form to the registered email address on your Colossus Fantasy account. You should receive this form by February of the following calendar year (e.g. February 2026 for the calendar year of 2025). We will also send a physical copy in the mail to the address associated with your account. If you have not received the 1099-MISC form by the end of February, please contact our Customer Services team.&nbsp;<\/p>\n\n\n\n<p>If requested by Colossus Fantasy, you shall provide all information necessary for Colossus Fantasy to perform or evaluate any of its obligations under state or federal law, including any updated address, phone and social security number details to Colossus Fantasy. These details will be used to allow Colossus Fantasy to comply with tax regulations and may be shared with appropriate tax authorities.&nbsp;<\/p>\n\n\n\n<p>The Player is solely responsible for all taxes associated with the receipt or use of any prize.<\/p>\n\n\n\n<p>Colossus Fantasy does not provide tax advice, nor should any statements in these Terms of Play be construed as tax advice.<\/p>\n\n\n\n<p><strong>2.2 Eligibility. <\/strong><\/p>\n\n\n\n<p>You represent and warrant that, throughout any period in which you access or participate in the Contests, that you satisfy any eligibility criteria associated with such Contests, which may vary by jurisdiction, including but not limited to the eligibility requirements as set forth herein.<\/p>\n\n\n\n<p>You are not subject to backup withholding tax because (a) you are exempt from backup withholding; (b) you have not been notified by the Internal Revenue Service (the \u201cIRS\u201d) that you are subject to backup withholding as a result of a failure to report all interests or dividends; or (c) the IRS has notified you that you are no longer subject to backup withholding.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>1.1 Your responsibilities The Internal Revenue Service (IRS) requires a completed 1099-MISC form from Players who have accumulated $600 or more in net winnings (NOT total payouts) for the calendar year (January 1 &#8211; December 31). If our records show you have exceeded $600 in net winnings for the calendar year, we will send your [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[70],"tags":[],"class_list":["post-2949","post","type-post","status-publish","format-standard","hentry","category-taxinformation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tax Information - Colossus Fantasy Help<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.colossusfantasy.com\/help\/tax-information\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tax Information - Colossus Fantasy Help\" \/>\n<meta property=\"og:description\" content=\"1.1 Your responsibilities The Internal Revenue Service (IRS) requires a completed 1099-MISC form from Players who have accumulated $600 or more in net winnings (NOT total payouts) for the calendar year (January 1 &#8211; December 31). 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