Every year, the United States IRS requires our payment processor Adyen to provide a 1099-K Form for each Partner that meets the criteria outlined below for the previous calendar year:
- Made more than $20,000 USD in card payment processing volume
- Has processed more than 200 card payments
The 1099-K Form summarizes the sales activity of the account and is designed to assist you in reporting your taxes. It’s provided to the account holder and the IRS, as well as certain US states.
If your account meets the above criteria, it's worth making sure your billing information on your account is correct and your tax number is valid every January.
Once your 1099-K Form has been sent to the IRS, you’ll also receive a copy of this via email from Adyen.