Whoever is the recipient of the funds ( the individual or company ) may be issued a 1099K at the end of the year if they meet certain thresholds set by the IRS. That 1099K will reflect the full gross amount raised, as compliant with federal law. We highly recommend that you work with a tax professional to advise you on how to take the appropriate fee deductions and handle the funds from a tax perspective.
Stripe handles transactions conducted through Seed&Spark. They are responsible for filing and mailing 1099-K's for all US-based creators who meet the required thresholds of the current tax year.
If you meet these thresholds, you will receive a 1099 form at the address you provided us. If you have not received a 1099-K by February 19th, if you lost your copy, or if you think the information on your form is incorrect, please contact us.
Even if you don’t receive a 1099-K, the funds you raise on Seed&Spark are still subject to taxes. In all financials matters around your campaign we recommend working with a tax professional.