From the IRS link :
If you accept payment cards as a form of payment, you will receive a Form 1099-K for the gross amount of proceeds for the goods or services purchased from you through the use of a payment card in a calendar year. Further, if you accept payments from a third-party settlement organization, you should receive a Form 1099-K from that organization only if:
- The total number of your transactions exceeds 200
AND
- The aggregate value exceeds $20,000 in a calendar year.
Effective for returns for calendar years beginning in 2022:
If you accept payment cards as a form of payment, you will receive a Form 1099-K for the gross amount of the payments made to you through the use of a payment card during the calendar year. Further, if you accept payments from a third-party settlement organization, you will receive a Form 1099-K from that organization only if the aggregate amount of payments for goods and services exceeds $600 during the calendar year.
‎January 5, 2022
7:29 AM
