1099 Tracker Is Live; 2024 NFFC Registration Is Also Live

[Greg Ambrosius]

Just a reminder that in the last year we've added a tool that helps you prepare for your year-end taxes that is updated regularly. This tool will let you know your net winnings during the current calendar year and what total will be reported to the IRS.

Go to the upper right on your My Teams page and click on the icon where the money on account shows ($X.00). Then click on Account Settings and pull down to 1099 Tracker. There you'll see three boxes:

YTD High Stakes Prize Money (for all High Stakes contests during the calendar year)
YTD High Stakes Entry Fees
Net Winnings

That last total will be your net total that will be taxable.

Just a reminder that this is an APPROXIMATE look at what your current 1099 will look like from Sportshub. We say approximate because:

1) This only encapsulates what we call high stakes games: NFFC, NFBC, NFBKC, NFHC, & CDM...so entries and prizes from those contests are included.
*NOT included: BestBall10s, Leaguesafe, and Fanball....so if you did not play any of those, this 1099 Tracker needs zero manual adjustment. If you did play any of these other games, you can see purchases/prizes under the View My Transactions (also under icon) and see anything you played there as well. Your final 1099 will include ALL of this, but we couldn't get it all to funnel into this Tracker right now...any questions, please ask.

2.) This 1099 Tracker will update once a day at about 10 am ET (9 am CT). So if you enter a contest after that time, you will see it reflected next day once it refreshes. (Note: a few customers will need a manual adjustment on our side. If you have any particular questions, please email/call Darik: [email protected] or 651-895-0583)

*** Remember that all entries purchased on or before 12/31/19 will REDUCE 2019 liability. That includes contests that you sign up for 2020 NFBC and NFFC. Also, all NFFC Football prizes will be put on account by 12/28/19 (yes, really), so you'll have at least 4 days at year-end to tinker with all this.

***If you are paying for 2020 entries via CHECK (not from your wallet/account), please keep in mind, we need to receive these check payments by 12/31/19 for them to "count" for 2019 1099 status...and we need full payment for a contest so we can post it to your account. Example: If you sign up for an Ultimate ($5,000) and a Super ($2,500) via check ($7,500 total), we need $7,500 payment for these to count against 2019 liability. If you send only $3,000, only the Super amount of $2,500 would hit your 1099 Tracker and final 1099.

Many of you have signed up for 2020 NFBC entries via check already. If you want these to count for 2019, they have to be paid for in full.

Please make sure you understand this very important point. We want to be out in front of this and avoid any confusion.

Again, if you have any questions, feel free to give Darik a shout at 651-895-0583.

Thanks all, and good luck!

[Greg Ambrosius]

Even though the 2019 NFFC season isn't completed yet, we've added 2020 NFFC events to Registration today. There are no dates attached to any of the contests, but you can sign up for any contest now as TBD (To Be Determined) and we can easily show you how to switch to the correct dates and times later.

Remember that any 2020 NFFC contest that you pay for by December 31st will be recognized as a 2019 expenditure and will affect your 1099 filing to the IRS. That could be in a good way, though!!

[JohnP]

Remember that any 2020 NFFC contest that you pay for by December 31st will be recognized as a 2019 expenditure and will affect your 1099 filing to the IRS. That could be in a good way, though!!

Better yet - sign up for some baseball!

[Greg Ambrosius]

Regular season prizes are now on your Player Accounts and ready for you to cash out if you'd like. Congrats to all of our regular season prize winners and best of luck the rest of the way. There is still another $3 million or so in prizes available to everyone.

Just a heads up that we do have a great 1099 Tracker tool available to you to see how these prize winnings will affect your taxes in 2021. As you know, we keep track of all prize money won during the calendar year and subtract the amount of entry fees you spent during the calendar year and report those net winnings to the IRS. Anything over $600 is taxable.

We will have 2021 NFFC Registration available hopefully by Dec. 31st if you want to use some of that prize money to acquire teams for next season. We also have NFBC Registration open now for the 2021 season and we are currently taking signups for the NFBKC and NFHC 2020-21 seasons. We also have NFFC Post-Season Contests available to purchase right now. Look for those two Post-Season contests on Registration now.

Thanks all and good luck. Instructions on the 1099 Tracker are above. Enjoy.

[Greg Ambrosius]

Just a heads up that all of our 2021 NFFC offerings are live on Registration now. Every contest just has TBD entries, but if anyone wanted to use prize money from this season or wanted to pay for 2021 contests in advance to add to your entry fees total for 2020 you can do so by December 31st. Again, any product purchased in this calendar year will be listed as a 2020 expense paid to SportsHub Games Network.

We have plenty of time to change the TBD entries to actual dates and times, but this at least allows you to make these purchases now with existing money on account and have it charged to 2020.

Also, our goal is to have playoff prize money on everyone's accounts by Thursday morning, December 31st. We can't do it sooner because per our rules we have to wait through Elias Sports Bureau scoring changes that usually happen on Wednesday night. But the goal is to have that money on your account for the 2020 accounting season and allow each of you a few hours to make those purchases yet in the 2020 calendar year. Plan accordingly and good luck in the playoffs.

If you need help with any of this, contact me, Tom or Darik and we'll do what we can. Thanks and good luck.

[Greg Ambrosius]

Just a heads up that we are working hard this week to have playoff prize money on your Player Accounts by Thursday once Elias stat changes are finalized. We will put almost $3 million in prizes on your accounts on December 31st, so enjoy everyone!!! And Congrats!!!

Remember, you need to claim your prizes to get the money back on account. You do that by:

* Go to the icon in the upper right next to $0.00 (or whatever amount is showing on your account)

* Click the icon and pull down to Account Settings. Then pull down to Claim Prizes.

* Then click on Claim Winnings. Then click on all of the blue Claim Prizes boxes. Agree to the affidavit and make sure your W-9 is filled out with the mailing address you want the check sent to. After doing all that, the prize money goes on your Player Account.

* If you want to make purchases yet for 2020 and have those entries counted toward your total entry fees in 2020, make a purchase by Thursday using that money or by paying in full with a credit card. All entry fees in calendar 2020 will be deducted from your total winnings in calendar 2020 and those net earnings will be reported to the IRS. We have 2021 NFFC Post-Season Contests available on Registration right now and all 2021 NFFC contests are also on Registration as TBD entries. You can change the date and times of those entries later, but by purchasing them by December 31st they will count as 2020 purchases.

Look for prize money soon and congrats to all of our winners from 2020.

[Greg Ambrosius]

We will pay 2022 NFFC regular-season prize winners tomorrow afternoon after Elias Sports Bureau stat changes are made. Once the statistics for Week 14 are official, you'll see your prize winnings on your Player Accounts. You no longer have to claim your prizes as the prize money will already be deposited into your Player Accounts.

Congrats everyone and enjoy the prize money just before the holidays.

Oh, and just a reminder that we have a page set aside for you that allows you to track all of your winnings within SportsHub contests during the calendar 2022 season and the amount of entry fees you had during the calendar 2022 season.

This was first labeled as your 1099 Tracker, but it's now in a new spot on your team pages since we've updated the Wallet in the last two years.

To find this again, click on your Account Icon in the upper right and pull down to:

Account Settings
Then in the blue navigational bar at the top click on Settings
Pull down to Tax Summary

There you will see the net winnings for you during the calendar 2022 season and what total we will tell the IRS you won this year. If that total is $600 or higher, we will give that figure to the IRS and it will be taxable. If it is under $600, we won't send anything to the IRS and you won't be taxed on the net winnings (or losings).

We update this total of entry fees through December 31st, so anything you purchase between now and December 31st (like some NFFC Post-Season teams) will be added to the amount you spend with SportsHub Games Network during the 2022 calendar year. If you want to add to that total, just sign up for any 2023 NFBC contest or NFFC Post-Season contest and pay by December 31st. It's as easy as that.

Thanks all and good luck.

[Greg Ambrosius]

Just a reminder that the Tax Summary is available on your team pages if you want to take a look at that number and still make 2023 purchases by December 31st. Enjoy everyone and congrats to everyone who earned net revenue in the NFC Championships in 2022.

[Greg Ambrosius]

Just a reminder to everyone who won prize money in 2023 that we provide a 1099 Tax Summary page for you so that you know how much of your winnings will be reported to the IRS.

To find this information, click on the icon in the upper right corner.

* Then pull down to View My Transactions
* Then click on Settings in the blue navigational bar
* Then pull down to Tax Situation

There you can find your net winnings for 2023 and every other previous year in the NFC. It also tells you if you have a W9 on file or not.

Remember that we calculate your net winnings for 2023 by adding all of your prize money from all of our NFC/Fanball contests during the calendar year (Jan. 1-Dec. 31, 2023) and subtracting prize money earned during the calendar year. That difference is your net earnings and will be reported to the IRS, if it's more than $600, that is. Any net earnings under $600 does not have to be reported to the IRS.

So if you had $10,000 in winnings and $5,000 in entry fees, we will report a net earnings of $5,000 to the IRS. That total will be taxable. Entry fees for 2024 NFBC or NFFC contests that are paid for by December 31st of this year WILL be included as 2023 entry fees paid, so keep that in mind if you had a good year in 2023 and plan on returning to any of our contests in 2024.

NFBC 2024 contests are already on Registration and we'll add 2024 NFFC contests soon. The 2024 NFFC Post-Season Contest is available on Registration now, but we'll add the Primetime, the Rotowire Online Championship and other contests shortly with TBD entries. Prize money for the 2023 NFFC regular season will be paid out after Week 14, during the week of December 12th, so look for that soon.

Hope all of this helps. Thanks all and good luck in all of your leagues heading into the new year.

[Greg Ambrosius]

Just a reminder to everyone who received their NFFC regular season prize money on Friday that you can now see what your tax liability is on our Tax Summary page. All winnings for the calendar year of 2023 from the NFFC and NFBC have been awarded, so that total isn't likely to change (unless you are playing on Fanball or the weekly $50/50 Contest).

To find this information, click on the icon in the upper right corner.

* Then pull down to View My Transactions
* Then click on Settings in the blue navigational bar
* Then pull down to Tax Situation

There you can find your net winnings for 2023 and every other previous year in the NFC. It also tells you if you have a W9 on file or not.

Remember that we calculate your net winnings for 2023 by adding all of your prize money from all of our NFC/Fanball contests during the calendar year (Jan. 1-Dec. 31, 2023) and subtracting prize money earned during the calendar year. That difference is your net earnings and will be reported to the IRS, if it's more than $600, that is. Any net earnings under $600 does not have to be reported to the IRS.

So if you had $10,000 in winnings and $5,000 in entry fees, we will report a net earnings of $5,000 to the IRS. That total will be taxable. Entry fees for 2024 NFBC or 2024 NFFC contests that are paid for by December 31st of this year WILL be included as 2023 entry fees paid, so keep that in mind if you had a good year in 2023 and plan on returning to any of our contests in 2024.

NFBC 2024 contests and ALL 2024 NFFC CONTESTS are already on Registration. The 2024 NFFC Post-Season Contest is also available on Registration now, so sign up and pay for any of those contests by December 31st and they will be included as 2023 paid entry fees.

Hope all of this helps. Thanks all and good luck in all of your leagues heading into the new year.