Internal Revenue Service (IRS) Form 1099-K is an IRS information report which details the gross income processed through your RentPayment account(s) over the previous calendar year. RentPayment is required to send a Form 1009-K if you process more than $20,000.00 in Gross Income and more than 200 transactions through your RentPayment account in one calendar year.
Please note that if you report your taxes in Vermont or Massachusetts, this 1099-K has been issued because you have processed $600.00 or more in the last tax year.
If you meet the Form 1099-K criteria and we have a form W-9 on file, we will mail the Form 1099-K to your mailing address on file by January 31st for activity for the prior calendar year.
Please be advised that some states have recently adopted their own reporting criteria so we would advise speaking with a tax professional in your state regarding any state specific questions you may have.