What should I do if I have questions about the impact of receiving this incentive on my tax status?

VECF and its VQB5 partners cannot provide legal, tax or accounting advice; any information provided is intended to be general in nature. Recipients are strongly encouraged to consult their own professional tax, accounting, and/or legal advisors on tax matters.

By law, any participants receiving more than $600 in a calendar year MUST receive an IRS 1099 Form from the Virginia Early Childhood Foundation (VECF) the following January. Information obtained from participant W-9 Forms will enable VECF to comply with IRS reporting requirements. Payments will NOT be issued to participants until a completed, signed, and validated W-9 Form is received.

Those participants receiving $600 or more in calendar year 2024 will be mailed a MISC-1099 Form in January 2025 by VECF. 2023-2024 year participants should reach out to [e-mail] if their tax form is not received by February 28, 2025.

Those participants receiving $600 or more in calendar year 2025 will be sent a MISC-1099 Form in January 2026 by VECF.

Please review this article for details on why the IRS W9 form is required for RecognizeB5 participation.

I was contacted by VECF and asked to complete an IRS W-9 Form. Why am I required to submit an IRS W-9 Form to participate in RecognizeB5?