Short answer: If you receive $600 or more in total payouts in a calendar year, you will be issued a 1099-NEC tax form. Only amounts that have actually been paid out to you count toward that $600 threshold - balances still sitting in your Vizno account do not. 1099-NECs are delivered by January 31 of the following year, consistent with IRS requirements.
Who receives a 1099-NEC
You will receive a 1099-NEC for any calendar year in which your total paid-out earnings reach or exceed $600. This threshold is based solely on funds that were disbursed to you during that year. If you earned more than $600 but left some or all of it in your account balance without withdrawing, only the portion actually paid out is counted.
When and how you'll receive it
1099-NECs are issued by January 31 of the year following the tax year in question - for example, a form covering calendar year 2025 would be delivered by January 31, 2026. This deadline is set by the IRS. Further details on the delivery method (electronic vs. mailed) are still being finalized - check back for updates.
Edge cases and things to keep in mind
- Balances held in your account do not count toward the $600 threshold until they are actually paid out. If your payout crosses $600 across multiple disbursements throughout the year, the total of those disbursements is what determines eligibility.
- Below-threshold earnings - if your total paid-out amount for the year is under $600, no 1099-NEC will be issued. You may still have a personal tax obligation on that income; consult a tax professional for guidance.
- Accuracy of your tax information - ensure your account has correct and up-to-date tax details on file so there are no delays in receiving your form.