Do you have to reaxh $20000 and 200 transactions to get 1099 or just one of the two?
I am new to owning my business and was curious to how the 1099 form for IRS works? Do you have to make $20000 and 200 credit card swips or just one of the two?
You can view the Square YouTube video regarding this by clicking Here
The US state your taxpayer information is associated with will determine your qualification for a 1099-K. Generally, accounts meeting both require reporting to the IRS.
