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 provides transition relief for third-party settlement organizations; Form 1099-K threshold is $5,000 for calendar year 2024 -- 26-NOV-2024
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