May 8, 2026 - WageFiling

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Small business owner reviewing Form 1099-K payment transactions on smartphone and laptop

What Is Form 1099-K and How Does It Affect Businesses That Accept Payments Through Apps?

Form 1099-K reports payments processed through platforms like PayPal and Venmo. Learn what the current threshold is, who receives the form, and what your business

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– Filer/Company is the Employer in the case of W-2 forms, and the Payor in the case of 1099 Forms. The Filer/Company is also sometimes called the Client. Filer is the company or person who paid the money and is responsible for filing to the IRS or SSA and responsible for IRS and SSA compliance activities.
– The Payee is the person, estate, trust, or other entity who received the money. The payee is also sometimes called the recipient or employee.
– e-Filing or electronic filing, means sending a copy of Form 1099 or W-2 to the IRS in a formless way using electronic transfer. Transmittal Forms 1096 or W-3 is never needed when e-Filing.

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What Is Form 1099-K and How Does It Affect Businesses That Accept Payments Through Apps?

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