New 1099-K Reporting Requirements for Payment Settlement Entities

 

알림: 역사 콘텐츠


본 문서는 기록 자료 또는 역사 자료로서 현행 법이나 정책, 절차>를 반영하고 있지 않을 수 있습니다.

Beginning in January 2012, payment settlement entities (PSEs) are required by the Housing Assistance Tax Act of 2008 to report on Form 1099-K the following transactions:

  • All payments made in settlement of payment card transactions (e.g., credit card);
  • Payments in settlement of third party network transactions IF:
    • Gross payments to a participating payee exceed $20,000; AND
    • There are more than 200 transactions with the participating payee.

Verification Processes

We verify that tax returns are correct and complete using the following processes:

Filing Deadlines & Procedures

Your Form 1099-Ks are due to merchants by January 31. In addition, your Form 1099-K is due to the Internal Revenue Service by the following dates: 

More Information

You can find more about the 1099-K and other information returns at our Third Party Reporting Information Center.