PayPal Site Donations?

I have a website that many users are visiting and registering to. So many in fact that my shared hosting account is being over loaded and I need to move to a better host. I want to set up a donations button so people can contribute money to the site to keep it up and running. I would not use the money for anything else, never. What I want to know is what sort of legal issues am I going to run into? Taxes? 501(c)3 ? Be straight forward, what are the road blocks? I took a poll and a bunch of people are willing to donate a lot of money. Thanks in advance!