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How does Stripe get away with not providing a 1099 for business credit card sales? Why would you have to qualify if it is required regardless of amount of income/credit card sales?

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  • Kathleen Burke

    Stripe isn't "getting away" with anything. The IRS only requires companies like Stripe to provide a 1099-k if you used them over 200 times AND received over $20,000 in payments. There is a practical reason for this, as credit and debit apps are so heavily used. Imagine if a 1099 had to be sent out every year for every person who received a payment from Stripe, Square, Venmo, Zelle, Google Pay, Apple Pay, etc.

    That said, you are not required to attach 1099s to your tax filings, but you do need to report the earnings. The accounting for the payments you received from Stripe are available under the SP analytics. See https://support.simplepractice.com/hc/en-us/articles/360034295892-Tax-Report-FAQs 

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