I am trying to do some research on this subject but I am having a lot of trouble finding information. I am setting up service on my website that gives the users the opportunity to earn money. User's will have the ability to earn money, and withdraw the money when they reach a certain threshold. In effort to avoid fees I am probably going to use Dwolla as a gateway for the users to transfer their earnings from my site to their accounts. But this brings me to a major question..am I responsible for collecting the tax information for the user?
I assume that the user is responsible for reporting taxes. But I feel like there would be some information that I would need to collect for U.S. residents.
Can anyone provide any guidance on this topic?
I assume that the user is responsible for reporting taxes. But I feel like there would be some information that I would need to collect for U.S. residents.
Can anyone provide any guidance on this topic?
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