I expected to receive a 1099-K tax form for 2022 but didn’t, why not?

The IRS delay in lowering the 1099-K reporting threshold may mean you were not eligible to receive a 1099-K tax form for the 2022 tax year.

On December 23, 2022, the IRS announced a delay for lowering the 1099-K reporting threshold to $600 USD. For tax year 2022, platforms were only required to file 1099-K forms for accounts with total gross volume greater than $20,000 USD and 200 transactions.

If you provided a Form W-8, documenting your Non-US tax status, this would also result in you not receiving a 1099-K form.

Many platforms began working with Stripe to contact individuals and businesses that had crossed the previously announced $600 USD threshold. If you received an email from Stripe Express inviting you to take action to receive your 2022 1099-K tax form, but did not receive the form, it could be that you were impacted by this late threshold change. You'll need to check with your platform to confirm whether or not you met the federal and/or state threshold eligibility requirements.

Learn more about 1099 tax forms in Stripe Express by checking the resources below.

This change doesn't apply to 1099-NEC and 1099-MISC thresholds, which remain at $600 USD.

This article is neither legal advice nor tax advice. We recommend that you speak to your tax advisor with any questions or concerns around tax reporting.