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Who receives a 1099-K Form?

Any client of PayLease whose volume exceeds the thresholds of $20,000 and 200 transactions annually. The volume thresholds are based on the unadjusted gross sales for all payment types, including credit card, ACH/eCheck, Cash Pay, Check21, PayPal, etc. Unadjusted gross sales means the total gross sales, unadjusted for discounts, returns or refunds per IRS regulations.

 

Disclaimer:  Information in this document does not constitute tax, legal, or other professional advice and must not be used as such.  Please contact your tax, legal, or other professional advisor for assistance.

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