1099-K

Payment Card and Third Party Network Transactions

IMPORTANT: Beginning in filing year 2021, the IRS threshold for filing Form 1099-K will be lowered from $20,000 to $600.

About Form 1099-K

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 makes a payment in settlement of a reportable payment transaction, that is, any payment card or third party network transaction, if the PSE submits the instruction to transfer funds to the account of the participating payee to settle the reportable payment transaction.

Form 1099-K, Payment Card and Third Party Network Transactions, is an IRS information return used to report certain payment transactions to improve voluntary tax compliance. This includes:

  • payment card transactions (e.g., debit, credit or stored-value cards), and/or
  • settlement of third-party payment network transactions above the minimum reporting thresholds of –
    • gross payments that exceed $600
IRS Instructions for Form 1099-K

Supported 1099-K Forms

We've made it easy to file your1099-K forms. Simply create a Yearli Premier account, import your data directly using our custom template, review your data and checkout. It's that easy. Yearli will file your forms to the IRS and send copies to your recipients.

Core

Sign Up
Free
Annual Subscription + Filing Fees

Performance

Sign Up
$99
Annual Subscription + Filing Fees

Premier

Sign Up
$699
Annual Subscription + Filing Fees

Custom

Sign Up
Custom
Annual Subscription + Filing Fees
Call for Pricing and Purchase

Estimate Your Filing Cost

Number of forms

Core

W-2 & 1099
$4.99
$5.99Jan 30 & 31

Performance

W-2 & 1099
$83.99

Premier

W-2 & 1099
$401.50

Custom

Call for Pricing and Purchase
Pricing reflects estimated cost to file W-2, 1099 & 1095 forms. Price also includes federal e-file, state reporting (where applicable), recipient print and mail.
View Detailed Pricing

Who Files?

Every PSE or other party which submits instructions to transfer funds to the account of a participating payee, in settlement of reportable payment transactions, must file an information return (Form 1099-K) with respect to each participating payee.

What to Report?

Payment card transactions (e.g., debit, credit or stored-value cards), and/or in settlement of third-party payment network transactions above the minimum reporting thresholds of gross payments that exceed $600 to each participating payee.

Why File?

In many instances IRS penalties for not filing correct information returns (Code Section 6721) or correct payee statements (Code Section 6722) may apply. In addition, your payees need this information in order to report income to the IRS.

What Our Customers Are Saying

4.8
Out of 5.0
Overall rating
based on 50,000+ ratings and reviews.
97%
of customers that buy from this merchant give them a 4 or 5-Star rating.
Read More Reviews

Speak to a Filing Expert

Need more information about filing forms through Yearli? Submit your email address and one of our filing experts will contact you within 24 hours. If you need immediate assistance, please call us at (800) 968-1099.