FundSvcs Community

In the last few months we have seen an increase in the number of people hosting third party events were they collect all event registrations and donations in order to pay for all expenses associated with the event. After all expenses are paid they send us the remaining balance. These event organizers understand that all the people that register/donate will not receive a tax receipt from our organization since they did not make the payment directly to us. My question involves the changes in the IRS form 1099-K reporting. Starting this year the threshold for reporting from vendors such as PayPal/Venmo will be lowered to $600. We are looking for sample language we can give to people that want to do these types of events so they understand the potential income reporting implications. 

Thank you!

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Lisa Kirschner

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Original Message:
Sent: 1/25/2023 8:24:00 AM
From: Lisa Kirschner
Subject: Third party fundraising events

In the last few months we have seen an increase in the number of people hosting third party events were they collect all event registrations and donations in order to pay for all expenses associated with the event. After all expenses are paid they send us the remaining balance. These event organizers understand that all the people that register/donate will not receive a tax receipt from our organization since they did not make the payment directly to us. My question involves the changes in the IRS form 1099-K reporting. Starting this year the threshold for reporting from vendors such as PayPal/Venmo will be lowered to $600. We are looking for sample language we can give to people that want to do these types of events so they understand the potential income reporting implications. 

Thank you!

------------------------------
Lisa Kirschner

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