On December 23, 2022, the IRS announced that the 1099-K filing threshold will remain at $20,000 USD and 200 transactions for tax year 2022. As a result of this change, you may no longer receive a 1099-K form from CommentSold for 2022.
You will still have access to Stripe Express, but if you gave e-delivery consent and are no longer eligible to receive a 1099-K form, a form will not be available.
Can you expect to receive a 1099-K from CommentSold? Learn whether you meet the criteria below!
Form 1099-K is a purely informational form summarizing sales activity for your account. The Internal Revenue Service (IRS) requires that CommentSold provide this form to every retailer using CS Payments each year.
You will receive a Form 1099-K if you meet all of the below criteria for the previous calendar year:
- You used CS Payments as a payment processing option.
- Your account/business is based in the U.S. (or your non-U.S. account is for a U.S. taxpayer).
- You generated more than $600 in total gross volume.
CommentSold will provide a copy of your Form 1099-K to you, the IRS, and in some cases, your state.
Got Questions? We Have Answers
- Will I be getting a 1099-K?
- If your CS Payments account meets the above criteria for the previous calendar year then you will receive a Form 1099-K from CommentSold.
- How will I get my 1099-K?
- CommentSold partners with Stripe to file 1099 tax forms that report your earnings or sales activity. You will receive an email from Stripe with instructions about how to confirm your tax information and delivery preferences to make sure your Form 1099 is sent to the right place.
- Which email address does Stripe use to send Stripe Express invitations?
- Stripe uses the email information associated with your CommentSold account to send you an invitation to sign up for Stripe Express. Be sure to check your spam or junk mail folder in case your invitation landed there.
- Can I get an electronic copy?
- Absolutely! Stripe will email you with instructions on how to access your tax forms via the Stripe Express app.
- What is Stripe Express?
- When will I get a 1099-K?
- Your 1099 tax form will be sent to you by January 31, 2023.
- Stripe will email you instructions on how to set up e-delivery and create a Stripe Express account. If you haven’t already, you’ll need to complete these steps to access your 1099 tax form electronically.
- By January 31, 2023:
- Your 1099 tax form will be available to download through Stripe Express.
- Your 1099 tax form will be mailed to you if you don’t receive an email from Stripe or don’t consent to e-delivery. Please allow up to 10 business days for postal delivery.
- What if I have questions about or need to make changes to my 1099-K?