Every year, 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:
- Account is based in the United States (owners do not need to be US citizens) or the non-US account is for a US taxpayer AND
- More than $20,000 USD in total gross volume AND
- More than 200 charges
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.
For more help understanding your 1099-K, go to IRS.gov. You can also download a blank example of the 1099-K form here.
If your business qualifies for a 1099-K, your 1099-K for the previous calendar year will be available to download from the Documents section of the Dashboard prior to January 31. They will also notify the account admins via email when the form is available.