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This version of the form is not currently in use and is provided for reference only. Download this version of
IRS Form 1099-K
for the current year.
IRS Form 1099-K Payment Card and Third Party Network Transactions
What Is IRS Form 1099-K?
This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury. Check the official IRS-issued instructions before completing and submitting the form.
FAQ
Q: What is IRS Form 1099-K?
A: IRS Form 1099-K is a tax form used to report payment card and third-party network transactions.
Q: Who needs to file IRS Form 1099-K?
A: Payment settlement entities (PSEs) and third-party payment processors who have processed a certain amount of transactions need to file IRS Form 1099-K.
Q: What transactions are reported on IRS Form 1099-K?
A: IRS Form 1099-K reports payment card transactions, such as credit card and debit card payments, and third-party network transactions, such as transactions made through platforms like PayPal or Venmo.
Q: What is the purpose of IRS Form 1099-K?
A: The purpose of IRS Form 1099-K is to help track and report income from payment card and third-party network transactions for tax purposes.
Q: Do I need to include IRS Form 1099-K with my tax return?
A: No, you do not need to include IRS Form 1099-K with your tax return. However, you should keep it for your records.
Q: How do I get IRS Form 1099-K?
A: If you qualify, the payment settlement entity or third-party payment processor you work with will provide you with IRS Form 1099-K.
Q: Are there any penalties for not filing IRS Form 1099-K?
A: Yes, there can be penalties for not filing IRS Form 1099-K or for filing it late.
Q: What should I do if I didn't receive an IRS Form 1099-K?
A: If you are expecting an IRS Form 1099-K and did not receive one, you should contact the payment settlement entity or third-party payment processor to request a copy.
Q: Can I e-file IRS Form 1099-K?
A: Yes, you can e-file IRS Form 1099-K using the IRS's FIRE system (Filing Information Returns Electronically).
Q: When is the deadline to file IRS Form 1099-K?
A: The deadline to file IRS Form 1099-K is usually January 31st of the year following the calendar year in which the transactions occurred.
Form Details:
- A 8-page form available for download in PDF;
- This form cannot be used to file taxes for the current year. Choose a more recent version to file for the current tax year;
- Editable, printable, and free;
- Fill out the form in our online filing application.
Download a fillable version of IRS Form 1099-K through the link below or browse more documents in our library of IRS Forms.
Download IRS Form 1099-K Payment Card and Third Party Network Transactions
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