FAQ's about 1099's
Everything you need to know about what a 1099 form is, who receives them, and what to expect if you are eligible for one
Kelly Beeby avatar
Written by Kelly Beeby
Updated over a week ago

What is a 1099?

1099 forms are federal income tax information forms used to report earnings and proceeds other than wages, salaries and tips (which are reported on the federal W-2 form). The forms are filed with the US Internal Revenue Service (IRS) and, if required, state tax departments.

Will I receive a 1099?

If you earned $20,000 USD and transacted 200 or more transactions for tax year 2022, you will receive a 1099. If you did not meet these two requirements, you will not receive a 1099 form and one won’t be generated for you unless you meet a threshold in your state. If your state has a filing threshold lower than $20,000 USD and 200 transactions, you might receive a 1099 form.

You can check your state’s requirements here: View 1099 state requirements.

When will I receive my 1099?

Your 1099 tax form will be sent to you by January 31, 2023 (note: paper forms delivered by postal delivery might take up to 10 additional business days).

  • Your 1099 tax form will be mailed to you. Please allow up to 10 business days for postal delivery.

  • Rock Paper Coin will file your 1099 tax form with the IRS and relevant state tax authorities.

  • April 15, 2023: IRS deadline to file taxes. You’ll need your 1099 tax form to file your taxes.

In January, we strongly suggest that you ensure all of your tax filing details and delivery preferences are up to date in your RPC account. Navigate to your My Wallet page and click "Update" in the Stripe Connect section to review and edit. Your name, address and Taxpayer Identification Number (Social Security Number /Employer Identification Number) are of primary importance.

Why is Stripe requesting personal information like my Social Security Number?

Your Social Security Number is required to get your 1099 tax form properly filed with the IRS.

If you have earned enough to qualify for a 1099 tax form, the IRS requires your full details to be verified ahead of 1099 filing.

We understand you may have concerns about providing your full Social Security Number/Employer Identification Number when first claiming your account, given the sensitivity of this identifier. Stripe and Rock Paper Coin take your privacy seriously and have enabled technical solutions to ensure that your personal information is secure.

Source: The majority of content in this article is from our payment processor, Stripe

Did this answer your question?