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“Crowdfunding” is one of several Internet-based activities in which parties can receive funds from entities and individuals whom they have never met, or do not know. There are websites that specialize in these activities. Suppose you received a 1099-K [“Payment Card and Third Party Network Transactions”] https://www.irs.gov/pub/irs-pdf/f1099k.pdf What do you need to do? What actions are you required to do?
Have you been keeping accurate business records from Day One? Will your business records meet or exceed the IRS standards? Recordkeeping | Internal Revenue Service (irs.gov) Were the funds considered to be “gifts” or did you provide material, products, or services in exchange for the “gifts” or “donations”??