Marketplaces like AC55ID are required to send 1099-Ks to merchants when the gross amount of total reportable payments exceeds $600 in a calendar year. This change impacts tax reporting for 2023 and subsequent years. This information must be collected even if you are based outside the United States.
But luckily, this process has been made easy thanks to AC55ID's partnership with Stripe.
When you reach the earning threshold, you will receive an invite from Stripe to your email to begin confirming your tax information and setting up E-delivery. You can find out more information about these steps in your Stripe dashboard.
AC55ID does not offer legal advice or tax advice. We recommend you speak to your tax advisor with any questions or concerns about tax reporting.
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