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What Is Form 1099-K?

Form 1099-K – This form is used to report merchant cards and third-party network payments. Payment Settlement Entities (PSE) use this form to report payments made in settlement of reportable payment transactions.

When Do You Need to File 1099-K?

  • If you are a PSE
  • If you made payments outside of the U.S. to an offshore account, under some circumstances
    • Visit the IRS for a breakdown of these special circumstances

Form 1099-K Deadlines 2020

Forms must be transmitted to the IRS before the deadline. The due date for eFiling for Form 1099-K is March 31. If the due date falls on a weekend or holiday, it will be due the next business day.

How to eFile 1099-K for the Year 2020?

Tax1099 is the go-to source for your 1099 filings. You can eFile Form 1099-K Online for the year 2020 using Tax1099. Don’t wait for the deadline eFile Now.!