IRS 1099K form: What is it and why am I receiving it?


At the start of each year until January 31st, businesses receive a 1099K form for the previous tax year if those businesses processed payments through Autobooks. Autobooks is required by the IRS to provide businesses that process credit/debit card transactions that meet the following threshold:



The 1099K Form just reports what was received/processed through Autobooks. It is not an income statement for your business. 

If you desire to understand how the 1099K form impacts your business, please discuss it with a tax professional or CPA. 



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