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Find answers to frequently asked questions (FAQs) about Form 1099-K.
What's new
Updated and new FAQs were released to the public in Fact Sheet 2025-08 PDF, Oct. 23, 2025.
The One, Big, Beautiful Bill retroactively reinstated the reporting threshold in effect prior to the passage of the American Rescue Plan Act of 2021 (ARPA) so that third party settlement organizations are not required to file Forms 1099-K unless the gross amount of reportable payment transactions to a payee exceeds $20,000 and the number of transactions exceeds 200.
Related
- Understanding Your Form 1099-K
- 1099-K Reporting Requirements for Payment Settlement Entities
- Gig Economy Tax Center
- Pay As You Go, So You Won’t Owe: A Guide to Withholding, Estimated Taxes, and Ways to Avoid the Estimated Tax Penalty
- Money received through "crowdfunding" may be taxable; taxpayers should understand their obligations and the benefits of good recordkeeping
- Self-Employed Individuals Tax Center
- Tax Information for Individuals
Previous updates to FAQs
- Fact Sheet 2024-03 PDF, Feb. 6, 2024
- Fact Sheet 2023-06 PDF, March 22, 2023
- Fact Sheet 2022-41 PDF, Dec. 28, 2022