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E-file 2019 Form 1099-K Online

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State Filing

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

Postal Mail & Online Access

TaxBandits delivers your recipient copies by postal mail and through secure online access.

FIRE File Upload

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

Bulk Upload

Make use of our bulk upload template and reduce the time taken in manually uploading your 1099 Form data.

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What 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 2019 with TaxBandits?

Enter Filer Details

Enter Filer Details

Enter Payee Details

Enter Payee Details

Review your Form 1099 K / 1096

Review your Form 1099 K / 1096

Transmit your Form 1099 K to the IRS

Transmit your
Form 1099 K to the IRS

Recipient Copy (Postal)

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 Feb 28, 2020.

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

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.

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