The Deadline to E-file Form (formType) is March 31, 2025.E-File Now
E-File Form 1099-K Online
Prepare and file 1099-K securely with TaxBandits to report payments made through card companies, payment apps, and online marketplaces.
A Complete Solution for Filing Form 1099-K
- Multiple Data Import Options
- Supports Federal, State Filing, and Corrections
- Deliver Recipient Copies by Mail or Online
- AI-powered Assistance & World-Class Support
Powerful PRO Features for Tax Professionals
- Comprehensive Client Management
- Streamlined Team Management
- Insightful Reports
Simpler 1099-K Filing Starts Here!
Check out the robust features that make TaxBandits your perfect solution for filing 1099-K online.
How to E-file 1099-K
Exclusive Pro Features Designed for Tax Professionals
Enhance your tax filing process and optimize workflows with powerful, tailored tools designed for tax professionals.
BanditCollab
(Team Management)
Securely invite team members to manage filings for your clients with their own credentials. Assign the roles of preparer, approver, or transmitter to delegate tasks and streamline workflows.
BanditConnect
(Client Management)
Stay connected with clients through a secure, customized portal. Exchange data, share documents, and maintain seamless communication to track your clients’ filings.
Extensive Reports
Access detailed reports to gain insights into team performance and client filings. Leverage in-depth analytics to make informed decisions and enhance productivity.
Simplify your firm’s 1099-K filing process with our PRO features!
Contact our team at (704) 684-4758 to explore custom pricing options for high-volume filing!
Information Required to E-file Form 1099-K
Our exclusive partnership with Sage Intacct powers seamless 1099-K e-filing
Information Required to E-file Form 1099-K
Filer’s Info
Name, EIN, address, telephone number, and filer type (Payment Settlement Entity (PSE), Electronic Payment Facilitator (EPF), or other third party.
Payee’s Info
Name, TIN, address and account number
Payment Info
This includes,
- Transaction type (Payment card or third-party network)
- Gross amount of transactions
- Card-not-present (CNP) transaction that involves online, phone, or catalog sales
- Merchant category code
- Number of payment transactions
- Total reportable payment transactions for each month
Federal Income Tax Withheld (if any)
State Tax Information
State abbreviation, payer's ID number, and state income tax withheld. Learn More
Follow our instructions to learn how to fill out Form 1099-K. Start e-filing with TaxBandits today.
How to E-file Form 1099-K Online with TaxBandits
TaxBandits offers flexible options for completing 1099-K filings. Choose your preferred data import methods to get started!
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Step 1: Enter Form Data
Fill out your 1099-K form by entering the required information in the respective fields.
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Step 2: Complete State Information
Provide state-specific information on Form 1099-K. Complete the Reconciliation Form if required.
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Step 3: Opt-in to Recipient Copy Distribution
Allow TaxBandits to distribute your recipient copies through Postal Mail, Online Access, or both.
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Step 4: Review and Transmit
Review the form summary and transmit the forms to the IRS and state agencies.
We'll email you updates about the status of your forms. You can also track the status directly from your dashboard.
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Step 1: Choose the Bulk Import Method
Use our standard CSV template or upload your file option to import
data in bulk. -
Step 2: Review Import Summary
Our system generates your 1099-K forms based on the data imported. You can then review and make any necessary updates.
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Step 3: Add State Filing and Copy Distribution
Complete state-specific details on Forms 1099-K and the Reconciliation form, if required. Then choose distribution options: Postal Mail, Online Access, or both.
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Step 4: Review and Transmit
Review the form summary and transmit the forms to the IRS and state agencies.
We'll email you updates about the status of your forms. You can also track the status directly from your Dashboard.
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Step 1: Choose Accounting Software
Choose the accounting software you use (Xero, QuickBooks, Zoho Books, or FreshBooks) and import your 1099-NEC into TaxBandits.
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Step 2: Review Import Summary
Our system will generate your 1099-NEC based on the imported data. You can review the data and make changes as needed.
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Step 3: Opt for State Filing and Distribution
Complete state-specific information on Form 1099-NEC and the Reconciliation form if needed. Then, choose form distribution options — Postal Mail, Online Access, or both (BanditComplete).
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Step 4: Review and Transmit
Review the form summary and transmit it to the IRS and state agencies.
We'll send you email updates regarding the status of your forms. You can also track the status directly from your Dashboard.
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Step 1: Turn ON Sage Cloud Services
Enable ‘Sage Cloud Service’ on the Subscription page and select ‘E-file’ under Accounts Payable.
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Step 2: Enable 1099 E-filing
Go to Configure Accounts Payable, check ‘Enable 1099 e-filing powered by TaxBandits’, and create a batch by selecting the tax year, vendor, and form type. Click ‘E-file’.
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Step 3: Authorize and Import Data
Log in or create a TaxBandits account, authorize access to your Sage 1099 data, and view imported records.
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Step 4: E-file and Distribute
Review and e-file your 1099 forms with the IRS & State in TaxBandits. Then, choose form distribution options — Postal Mail, Online Access, or both (BanditComplete).
Ready to E-file Form 1099-K with the IRS and States?
How to E-file 1099-K
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Frequently Asked Questions to File 1099-K Online
What is IRS Form 1099-K?
IRS Form 1099-K is used to report the settlement of reportable payment transactions made through payment cards or third-party networks for each calendar year.
Who Must File 1099-K?
Form 1099-K is filed by payment card companies, payment apps, and online marketplaces for individuals or entities that receive more than $5,000 for goods or services during the corresponding tax year.
Some of the common types of entities that are required to file 1099-K include,
- Online payment apps such as PayPal, Venmo, and Cash app.
- Auction sites
- Ticket selling platform
- Car rental platform
- Craft or maker marketplace
- Real estate marketplace
- Crowdfunding platform
- Freelancer marketplace.
What is the new threshold of Form 1099-K?
The new threshold for Form 1099-K is $5,000 regardless of the number of transactions for the 2024 tax year, as the IRS has postponed the anticipated change of the $600 threshold to 2026 and after. The 1099-K threshold for 2025 is $2,500. To learn more about the 1099-K threshold for the 2024 tax year, click here.
When is the deadline to file Form 1099-K?
- The filer must furnish recipient copies of Form 1099-K by January 31, 2025.
- The due date to file 1099-K with the IRS on paper is
February 28, 2025. - The due date to file 1099-K electronically is
March 31, 2025.
If the deadline falls on a weekend or federal holiday, the deadline moves to the next business day.
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.
Filer’s Information
1. Name, Address, City or Town, State, Postal Code, and Phone Number
2. TIN (EIN/SSN)
3. Filer Type (PSE or EPF)
4. Transaction type (Payment Card or Third-party network)
Payee Information
1. Name
2. TIN
3. Address
Payment 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
Want to know how to complete Form 1099-K? Follow these step-by-step Form 1099-K Instructions to guide you through the process.
What is the difference between Form 1099 K, NEC and MISC?
Form 1099-K reports payments made through payment cards and third-party networks, while Form 1099-MISC is typically used for miscellaneous payments made through cash or check. Form 1099-NEC, on the other hand, is specifically used to report non-employee compensation made through cash or check. To learn more in detail about Form 1099-K vs NEC vs MISC, Click here.
Helpful Resource for Filing 1099-K
What is Form 1099-K?
Form 1099-K Changes
Form 1099-K Instructions
