[Account Owner] Do you issue 1099k's?
Yes! As a third party network, we generate, file, and send 1099-Ks for AdvicePay accounts that meet the IRS minimum threshold requirement.
- For tax years 2021 and prior, this threshold applies to firms that exceed both 200 transactions and $20,000 on AdvicePay during the course of the year.
- Beginning in tax year 2022, the IRS minimum threshold requirement is changing and will apply to all firms that meet or exceed $600 in transactions on AdvicePay during the course of the year. This will impact 1099-Ks sent in 2023.
1099-K forms are mailed to the business address we have on file each January. If you've recently moved, please reach out to our team at firstname.lastname@example.org so we can help get your address updated!