# 1099-K tax forms for platforms and marketplaces

This article is for platforms and marketplaces. If you accept payments with Stripe but aren’t a platform or marketplace, see 1099-K tax forms.
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* [What is a 1099-K form?](#what-is-a-1099-k-form)
* [Who files a 1099-K form?](#who-files-a-1099-k-form)
* [Who receives a 1099-K?](#who-receives-a-1099-k)
* [Deadlines](#deadlines)
* [Extensions](#extensions)
* [State filing considerations for 1099-K](#state-filing)
* [Mailing vs. e-filing with the IRS](#mailing-vs-efiling)
* [Penalties](#penalties)
---
## What is a 1099-K form?
A [1099-K form](https://www.irs.gov/forms-pubs/about-form-1099-k) is an informational document that summarizes an account’s sales activity. When using a 1099-K for information reporting, a copy must be delivered to the payment recipient and filed with the IRS.
## Who files a 1099-K form?
Generally, the Payment Settlement Entity (PSE) is obligated to file 1099-Ks to their accounts that meet 1099-K requirements.
There are two types of PSEs:
* Merchant Acquiring Entity (MAE): a bank or other organization that has a contractual obligation to make payments to a merchant in settlement of payment card transactions.
* Third-Party Settlement Organization (TPSO): an organization that has a contractual obligation to make payments for third-party network transactions, often handling payments between someone providing goods or services and the purchaser.
## Who receives a 1099-K?
1099-Ks are generally sent to merchants who have received payments using a TPSO or third-party payment network. For example, an [Etsy seller](https://www.etsy.com/help/article/3675) receives a 1099-K from Etsy. Recipients must report this income on their tax filings, regardless of whether they receive a 1099-K.
Accounts that met all of the following criteria in the previous calendar year receive a 1099-K:
* The account is based in the United States (owners don’t need to be US citizens) or the non-US account is held by a US taxpayer
* The account had greater than $20,000 USD in total gross volume and greater than 200 transactions
The 1099-K thresholds by calendar years are as follows:
* **2023 and earlier:** Greater than $20,000 USD in total gross volume and greater than 200 transactions
* **2024:** Greater than $5,000 USD in total gross volume, with no transaction minimum
* **2025 and later:** Greater than $20,000 USD in total gross volume and greater than 200 transactions
## Deadlines
The deadline to report tax forms to the IRS through Stripe is January 22. This ensures forms are filed with the IRS and delivered to recipients before the IRS deadline of January 31.
If you file independently of Stripe, the deadline to provide tax forms to recipients is January 31. The deadline to report 1099-Ks to the IRS is February 28 if paper filing and March 31 if e-filing.
## Extensions
If you need more time to file 1099-Ks to the IRS, you can submit an [IRS Form 8809](https://www.irs.gov/pub/irs-pdf/f8809.pdf) to apply for an extension.
If you need more time to deliver 1099-Ks to recipients, a letter to the IRS is required to explain the reasons for delay. Extensions must be requested before the original IRS due dates.
Learn more about [filing extensions on the IRS website](https://www.irs.gov/instructions/i1099gi#idm140041424500000).
## State filing considerations for 1099-K
States might have different requirements and deadlines for reporting and filing 1099-Ks. Read more about [different states’ thresholds and deadlines](https://docs.stripe.com/connect/1099-K). Consult a tax advisor to determine your filing requirements.
## Mailing vs. e-filing with the IRS
If you issue ten or more 1099 forms, you’re required to e-file with the IRS.
## Penalties
[IRS penalties](https://www.irs.gov/government-entities/federal-state-local-governments/increase-in-information-return-penalties?_ga=1.234758618.574228851.1477328285) of $60–$310 per form may apply for each instance where you:
* Don’t file an information return with the IRS by the deadline
* Don’t provide the recipient a statement by the deadline
* Don’t report a Taxpayer Identification Number (TIN)
* Report an incorrect TIN
* Report incorrect information
* Don’t provide the recipient with all required information
* Don’t e-file with the IRS when required to e-file
The IRS may impose larger penalties when there is evidence of intentional disregard or neglect.
_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._