Need a hand?

Find what you need on the FreshBooks Support page.
 From Client tips to Invoice tricks and everything in between.

Rather speak to a human? Give our award-winning Support team a shout:

help@freshbooks.com
1.866.303.6061

Support Team
< Payments

What is the 1099-K form?

__Payments Supported by FreshBooks is currently limited to a small number of users as we roll out it out. If you are an existing FreshBooks user that would like to sign up for a chance for early access, please fill out this form!

_Payments Supported by FreshBooks is the newest and easiest way for FreshBooks users to get paid online with credit cards. We’ve added more robust ways to save time, by automating more record keeping, and clearly showing you exactly where your money is at all times. Integrations FreshBooks currently has with online payment gateways (such as Stripe, PayPal, Authorize.net, etc.) will keep working as they currently do. For more information about what other payment gateways FreshBooks integrates with, click here _

Form 1099-K is the IRS’s information return for reporting the movement of funds. It reflects the gross dollar amount that you collected in the previous calendar year. In addition, the IRS 1099-K form should reflect your legal name and Taxpayer Identification Number (TIN).

Will you be sending me a 1099-K form? How will I receive it?

If you collect at least $20,000 and have at least 200 transactions in the calendar year, our partner WePay will send you by email the 1099-K form by January 31 of the following year. All payment processors are required to issue the 1099-K form by law. WePay is also required to file a corresponding tax form with the IRS, which participates in a combined filing program with many state tax agencies

How do I reconcile payments with my 1099-k form?

It is up to you (and a tax professional) to determine whether your proceeds represent taxable income. WePay, our partner will not report the funds that you collected as earned income. The 1099-K form is simply intended to track the movement of funds. Important to know is that refunds and credits are NOT included on the 1099-K tax form.