Truncating recipient's identification number onpaper payee statements.   Pursuant to proposed regulations §§ 1.6042-4(b) and 301.6109-4 (REG-148873-09), all filers of this form may truncate a recipient’s identification number (social security number (SSN), individual taxpayer identification number (ITIN), or adoption taxpayer identification number (ATIN)) on payee statements. See part M in the 2013 General Instructions for Certain Information Returns.

Payment subject to backup withholding.   Notice 2011-88, available at www.irs.gov/irb/2011-46_IRB/ar08.html, applies backup withholding to payments made after December 31, 2012. Notice 2011-42, available at www.irs.gov/irb/2011-23_IRB/ar08.html, establishes that a payment made by a third party settlement organization (TPSO) is a reportable payment potentially subject to section 3406 backup withholding only if the payee has received payment from that TPSO in more than 200 transactions within a calendar year. Payments made in settlement of payment card transactions that are potentially subject to section 3406 have no limiting threshold.

Frequently asked questions.   To find frequently asked questions (FAQs) about Form 1099-K reporting, go to IRS.gov and enter “new payment card reporting” in the search box.