Form 1099-K is used by financial institutions that process your credit and debit card transactions as well as other electronic payments (e.g., PayPal) to report the gross amount of your transactions to you and the IRS. The IRS has created a landing page with information about the 1099-K and links to further information (including a link to the Third Party Reporting Information Center).
Good news … you can subscribe right here on my website for free to my Big Ideas for Small Business® monthly newsletter and your copy will be delivered to your inbox — just as you receive my Idea of the Day® in your inbox at no charge. Please, tell a friend about both of these opportunities — and help me share this good news!
