Azibo will provide a 1099-K for each entity that collects payments on the Azibo platform.
What is the 1099-K Form?
For 2023, the United States’ IRS requires that Stripe provide a form called a 1099-K for each Stripe account that meets all of the following criteria in the previous calendar year:
- $20,000 USD collected & more than 200 transactions
The 1099-K is a purely informational form that summarizes the sales activity of your account and is designed to assist you in reporting your taxes. It is provided to you and the IRS, as well as some US states.
PLEASE NOTE: It is not allowed to collect rent for individuals or tax entities unrelated to you. 1099-K forms must be filed in the name of the account owner and cannot be transferred to another person.