Form 1099-K (Payment Card and Third-Party Network Transactions) is an IRS information return used to report certain payment transactions to improve voluntary tax compliance. Generally, the Form 1099-K includes the gross amount of all reportable payment transactions. A reportable payment transaction is defined as a payment card transaction or a third-party card network transaction.
If you process payments with Yapstone during a calendar year and we have a Form W-9 on file for you, we will mail the Form 1099-K to your mailing address on file by January 31st for transaction activity during the prior calendar year.
For further information on the Form 1099-K please visit: https://www.irs.gov/businesses/understanding-your-1099-K.