On 23 December 2022, the IRS announced [0] a delay to the lowering of the 1099-K reporting threshold to US$600 USD until the next tax year. This means that for tax year 2022, the 1099-K filing threshold will remain as it was last tax year: Platforms will only be required to file 1099-K forms for accounts that have processed a total gross volume greater than US$20,000 and 200 transactions.
If you have successfully provided a Form W-8 that documents your non-US tax status, this would also result in you not receiving a 1099-K form.
Many platforms began working with Stripe as early as October to contact individuals and businesses that had crossed the previously announced US$600 threshold. If you received an email from Stripe Express inviting you to take action to receive your 2022 1099-K tax form but have not yet received the form itself, it could be that you were impacted by this late threshold change. You will need to check with your platform to confirm whether or not you met the federal and/or state threshold eligibility requirements.
You can learn more about 1099 tax forms in Stripe Express by checking the resources below.
Please note: This change does not apply to 1099-NEC and 1099-MISC thresholds, which remain at US$600.
This article is neither legal advice nor tax advice. We recommend that you speak to your tax advisor if you have any questions or concerns related to tax reporting.