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How to access your 1099-K form

How to access your 1099-K form

If you accept card payments through our Online Payments feature, you may receive a 1099-K form when tax season approaches. 

In this guide, we'll go over answers to frequently asked questions, including: 

What is a 1099-K form?

The 1099-K is an informational form that summarizes the sales activity of your account, which is designed to assist you in reporting your taxes. Every year, the United States IRS requires that our payment processor provide a 1099-K for each account that met all of the following criteria in the previous calendar year:

  • Account bank account is based in the United States
  • More than $20,000 USD in total gross volume
  • More than 200 charges

Note: Some states have lower threshold requirements. For more information, see Which states have lower threshold requirements?

To learn more about your 1099-K, visit the IRS' website: Understanding Your Form 1099-K. You can also download a blank example of the 1099-K form here.

Does my practice qualify for a 1099-K?

For most accounts, the 1099-K is only automatically generated if your practice processed $20,000 in charges over the last calendar year, but there are possible exceptions to this rule. Our payment processor provides a 1099-K form for each unique tax identification number (TIN), such as a Social Security Number (SSN) or Employer Identification Number (EIN), that meets the IRS processing threshold. It’s possible that you may have an account that doesn't meet the threshold, but they may provide you with the form anyway.

Some possible scenarios include:

  • You have two accounts with the same TIN; one meets the IRS threshold and one doesn't. Each will receive a 1099-K.
  • You have two accounts with the same TIN; neither are over the IRS threshold individually but, when combined, the threshold is met. Each will receive a 1099-K.
  • Your business is based in a state with a lower threshold than the federal amount.

For more information on your 1099-K, see: 1099-K forms issued.

Where do I find my 1099-K form?

There are two options for receiving your tax forms:

  • Electronic delivery
  • Postal delivery

If you don't consent to e-delivery, SimplePractice will mail your 1099-K to the business address listed in your Online Payments profile. It'll be postmarked by January 31, 2023. If you’re expecting a 1099-K to arrive, but haven’t yet received it in the mail, please submit a help request for further assistance.

How do I opt in for electronic delivery of my 1099-K form?

You can opt in for e-delivery of your 1099-K form if you’d rather receive it via email. 

Note: If you opt in for electronic delivery, you won't receive a 1099-K via mail. 

Customers who meet the minimum criteria to receive a 1099-K will receive an email from our payment processing partner, Stripe, with instructions on how to log into Stripe Express. This is a separate dashboard where you can consent to receiving your 1099-K electronically and update your tax information, if needed. 

Stripe will contact the email address associated with your Online Payments account. The link included in the Stripe email will last for 90 days. If no consent is provided, you’ll receive your 1099-K via mail. If a new link is needed, please submit a help request for further assistance. 

Note: You can edit the email address associated with your Online Payments account by following the instructions in our guide: What information can I change after my account has been verified?

What information is included on the 1099-K?

The 1099-K includes a variety of important information about your practice and income over the tax year, including but not limited to:

  • Your practice contact information
  • The EIN or SSN used for your Online Payments account
  • The number of charges that you’ve made with your Online Payments account in the last calendar year
  • Any state or federal tax you’ve withheld through your Online Payments account

How is my 1099-K calculated? 

Your 1099-K includes the total amount of Online Payments processed within the tax year. Only payments that had an estimated payout within the tax year will be included. The form won’t include:

  • Refunds that were issued
  • Disputes that occurred
  • Other payment methods (such as cash, check, or external card) that were accepted

Your Tax Report will list your Online Payments based on the date they were added, rather than their estimated payout. This report also includes refunds, disputes, and non-Online card payments that were added within the year.  For more information, see Tax Report FAQs.

Which states have lower threshold requirements?

Certain states have lower thresholds to qualify for a 1099-K. If you don’t meet your state’s threshold, a 1099-K won’t be issued for your account. 

States are still determining what their thresholds will be. Once that information is shared with us, we'll share it here for your reference.

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