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 does not include personal income - you'll need to complete this separately. 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 details on your account are 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.
NOTE: Our payment processor Adyen will only provide a 1099-K form for accounts that process payments using our built-in payment processing solution, Pay by text message or a Fresha card terminal. If you process payments with a third-party payment provider, they will be responsible for providing you with your 1099-K form.
PRO TIP: Use the payments log for the most accurate breakdown of details per transaction.