PRCA Business Journal - October 30, 2020

Form 1099 Registration for 2020 Tax Year Performed by RodeoPay on behalf of Rodeo Committee Registration is NOW OPEN. Go to www.rodeopay.com and click on “1099 Form Registration” Things to Remember: • Everyone must register. Even if you registered last year, you will need to register again. • Registration continues through December 31st. -If you miss the deadline, you will not be able to register. • There is a $7.99 fee per 1099 produced, $30 fee per 1042-S (International Contestants) produced. • Form 1099 will only be produced for contestants who won over $600. • Form 1042 (if applicable) will be processed in conjunction with the 1099. • In accordance with new IRS guidelines, forms prepared will be 1099-NEC forms and not 1099-MISC like years past. Frequently asked questions: Question: By opting-in, will RodeoPay prepare 1099’s for my PRCA & WPRA Winners? Answer: Yes. You only need to opt-in once with RodeoPay. By opting-in 1099’s for both PRCA & WPRA contestants will be prepared.

P R C A B U S I N E S S

Question: Do I have to opt-in each year or is the opt-in continual? Answer: You do need to opt-in annually with RodeoPay. By opting-in it’s for the 2020 tax year only. (Jan 1,2020 to Dec 31, 2020) Question: Do I need to file anything with the tax authorities Answer: No. Once you have opted in, you are done. RodeoPay will handle everything from there. Question: If I have more than one rodeo, do I need to register more than once? Answer: No, when you register for one rodeo, it will register you for all rodeos associated with the tax ID number. Question: How do the rodeo contestants receive their tax forms? Answer: A physical 1099/1042-S form will be mailed to each contestant. A digital copy of the form will be available through the contestants’ RodeoPay account. Email accounting@rpdfin.com with any questions.

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ProRodeo Sports News 10/30/2020