E-file 2021 Form 1099-K Online
- No Annual Subscription
- No Deadline Pricing
- No Hidden Charges
More than 100,000+ Businesses trust TaxBandits for these Amazing Features
Direct State Filing for 50 states
Quickly and easily efile your State 1099 Forms along with any State Recon/Transmittal Forms that you may need.
Postal Mail & Online Access
TaxBandits delivers your recipient copies by postal mail and through secure online access.
FIRE File Upload
Do you have the 1099 data in the FIRE file format? We e-file your Form 1099 and mail the copies to your recipient.
Bulk Upload
Make use of our bulk upload template and reduce the time taken in manually uploading your 1099 Form data.
Success Starts with TaxBandits
The Smart Choice of every 1099 Filers
Excellent Step by Step process and easy to go back and make edits....
- Luis CollazoVery easy navigation going forward and backwards. I usually have trouble online with confusing instructions. Yours is very easy.
- Jay PolonskyEasy and reasonably priced. Great customer service!
- Allen CohenI’m quite impressed, especially in comparison with other sites from the IRS list I reviewed as well. Well done. Thank you.
- Igor MandrykaVery easy to find my way around, most help features are very good, customer service response has been exceptional for the price point.
- Jerry MorrisWork flow makes sense, navigation is easy, customer service is excellent with prompt call backs and thoughtful support.
- Michael MorrisWhat Information is Required to E-file Form 1099-K Online?
- 1. Filer Deta: Name, EIN, and Address
- 2. Payee Details: Name, TIN, Address
- 3. Payment settlement entity (PSE) or Electronic Payment Facilitator (EPF) or Other third party Details
-
4. Payment Details
- i. Gross amount of payment card/third party network transactions
- ii. Card Not Present transactions
- iii. Merchant category code
- iv. Number of payment transactions
- v. Federal income tax withheld
- vi. Total reportable payment transactions for each month
Get Started with TaxBandits to e-file your Form 1099 K in minutes!
How to File Form 1099-K Online for 2021 with TaxBandits?
Enter Filer Details
Enter Payee Details
Review your Form 1099 K / 1096
Transmit your
Form 1099 K to the IRS
Recipient Copy (Postal)
What is IRS Form 1099-K?
The IRS Form 1099-K is used to report payments processed by payment settlement entities (PSEs). A payment settlement entity (PSE) must file Form 1099-K for payments made in settlement of reportable payment transactions for each calendar year.
A PSE comes in two different forms, a third-party settlement organization (TPSO) or a merchant acquiring entity (MAE). A third-party payment network is also a type of entity responsible for issuing Form 1099-K. While using IRS Form 1099-K for reporting information, a copy must be issued to the payment received and filed with the IRS.
The seller would also need to meet the minimum 1099-K thresholds of processing 200 transactions and $20,000 in gross volume.
Form 1099 K is used to report income received from electronic payments such as credit cards, debit cards, PayPal, Uber, Lyft, and other third-party payers. This usually relates to any electronic sales transactions.
When is the deadline to file Form 1099-K?
Form 1099-K must be furnished to the recipients by January 31 and e-filed with the IRS by March 31 each year. The 1099-K paper filing deadline is February 28, 2022.
Visit https://www.taxbandits.com/1099-forms/form-1099-k-due-date to know more about 1099-K Due dates.
What are the Boxes in Form 1099-K?
Form 1099-K comprised of 8 Boxes. You have to enter the required information in each box.
Boxes for Filer’s Information
1. Enter Filer’s information like Name, Address, City or Town, State, Postal Code, and Phone Number
2. Enter Filer’s TIN (EIN/SSN)
3. Filer Type (PSE or EPF)
4. Transactions reported (Payment Card or Third-party network)
Boxes for Payee Information
1. Enter Payee TIN
2. Enter Payee Name
3. Enter Payee Address
4. Enter Payee City, State, Country, and ZIP code
Boxes for Debt information
-
Box 1a: Gross Payment Card/Third Party Network Transactions
-
Box 1b: Card Not Present Transaction
-
Box 2: Merchant Category Code (MCC)
-
Box 3: Number of Payment Transactions
-
Box 4: Federal Income Tax Withheld
-
Box 5a to 5I: Total reportable payment transactions for each month
-
Box 6 to 8: State Information
Visit Want to know how to complete Form 1099-K? Here are the step by step Form 1099-K Instructions.
What is the difference between Form 1099 MISC or 1099 K?
If your business has paid $600 or more directly or through cash for any contractor, you must file Form 1099-MISC.
If your business has processed an online or digital payment of more than $20,000 using a credit card or other digital payments or more than 200 transactions during a calendar year, you must file Form 1099-K.
