About Form 1099-K, Payment Card and Third Party Network Transactions


A payment settlement entity (PSE) must file Form 1099-K for payments made in settlement of reportable payment transactions for each calendar year. A PSE makes a payment in settlement of a reportable payment transaction, that is, any payment card or third party network transaction, if the PSE submits the instruction to transfer funds to the account of the participating payee to settle the reportable payment transaction.

Did you get a Form 1099-K? Find what to do with it.

Current revision

Recent developments

IRS announces delay in Form 1099-K reporting threshold for third party platform payments in 2023; plans for a threshold of $5,000 for 2024 to phase in implementation -- 21-NOV-2023

The transition period described in Notice 2023-10, delays the reporting of transactions in excess of $600 to transactions that occur after calendar year 2022 -- 27-DEC-2022

Form 1099-K – Clarification of total dollar amount in Box 1a -- 10-NOV-2022

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