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The federal government imposes tax reporting requirements on companies like Outdoorsy. This means we must notify the Internal Revenue Service (IRS) of reportable payments that just about everyone receives from our platform.

Without your tax info, we can’t do this. But, that doesn’t mean you’re off the hook.

By law, if Outdoorsy doesn’t have your tax information, we must withhold at least 24% of your reportable payments as income tax. We remit this to the IRS for you. 

Where do I add my tax info?

You can add your tax information in the Account area of your Dashboard, on the Payout preferences or Tax docs tab. 

What if I don’t add my tax info?

Automatic withholding (24% of your reportable payments) begins January 1, 2022.

Can I stop automatic withholdings once they’ve begun?

Yes, once you provide your tax information, Outdoorsy will stop withholding on future payouts.

What happens to the money that Outdoorsy withholds?

We remit the money to the IRS in your name, and you may be able to treat the withholdings as tax payments made by you. However, you may face difficulties given that the payments we remit aren’t tied to your taxpayer identification number. 

That’s why, even if withholding has started, you should provide your tax information to Outdoorsy. 

You should consult with your tax professional for more information.

I just submitted my tax information. Will Outdoorsy pay me back what it withheld?

It depends on when the withholding occurred and when you submitted your tax information. However, generally, Outdoorsy is prohibited from returning withheld amounts. 

Does Outdoorsy always notify the IRS of my reportable payments?

It depends on how much you receive in reportable payments each year:

$600 or more

Yes, we must notify the IRS of your reportable payments, starting in 2022. We’ll also prepare a 1099-K for you and send a copy to the IRS. 

Less than $600

We may not report anything to the IRS. You should consult with your own tax advisers to determine whether you need to report any activity on your income tax return.

American Rescue Plan Act (ARPA) of 2021

If you’ve been active on Outdoorsy and have never come across these tax requirements, it’s because some of them are new for 2022.

ARPA introduced the $600 threshold for tax reporting. This goes into effect on January 1, 2022.