All taxes, fees and surcharges on prizes are the sole responsibility of the game winners.
Ryzing, by law, may be required to withhold certain taxes or other assessments with respect to the prizes awarded on the Bingo by Ryzing and reserve the right to withhold any such applicable taxes with respect to such prizes.
Current IRS regulations require Ryzing to send 1099 Forms to all U.S. citizens who win more than $600 in any calendar year. Ryzing will send the forms within the first 30 days of the New Year. The IRS also requires the reporting of any transaction involving more than $10,000.
To comply with these regulations, Ryzing may require winners to provide us with their social security numbers prior to the release of their winnings.