About Taxes
As a donor, you will be classified as an independent contractor under the IRS code. Although no taxes are deducted from reimbursement checks, we are required to report the reimbursement paid to you. In 1995, the IRS instructed California Cryobank to issue 1099's to all donors earning $600 or more in any calendar year.
In addition, the Cryobank is required to report such earnings to EDD. Therefore, each January, you will receive a 1099 form reflecting the total reimbursement paid to you during the previous calendar year.
