The IRS provides Form 1040-ES for you to calculate and pay estimated taxes for the current year. While the 1040 relates to the previous year, the estimated tax form calculates taxes for the current year. You use Form 1040-ES to pay income tax, self-emplo
, but if the gift creates notable income, that income would be taxable.Note: It is possible that these fundraising platforms will see similar treatment to third-party transaction platforms, meaning you may receive a Form 1099-K for making $600 or more instead of $20,000 in future years....