How do mining pools declare income tax?

[herbertfilby]

So a mining pool has thousands of miners all working for it. They find a block and the mining pool is responsible for paying out the individual miners' shares, and keeps (for example) 1% in fees.

How is the mining pool taxed for income when all individual miners are responsible for their own income tax?

Let me use an example.

Let's say we have Pool X and they're all mining Vertcoin. A block is found and 12.5 VTC is awarded to the mining pool. The current value in USD is $71.50.
Is the mining pool on the hook for realizing that $71.50 as taxable income? Even though they will eventually give it away to miners, who are then also expected to pay income tax on their shares?

Or is the pool only going to report their 1% fee as income?

In a normal business setting, an "employer" would have to receive a "contractor's" SSN and send them a 1099, but there's no way current mining pools do that, which means they might be responsible for that full amount, which worries me. How do they handle this?

Any advice or insight would be greatly appreciated. Thank you!

[fanatic26]

The vast majority of pools are outside the US jurisdiction and they do not have to report anything to the IRS.