Taxes & 1099

As an independent business using TIDY for payment processing with your clients, you may receive a 1099-K for credit card transactions for tax filing. We do not issue 1099-Ks for payments processed via other channels, such as cash or check. You can track these payments though to make it easier for you to report total earnings at the end of the year.

We will provide you with a 1099-K if you earned more than $20,000 in gross unadjusted payments, and you provided at least 200 transactions. If you do not meet both of these thresholds, most likely you will not get a 1099-K.

We will send out 1099 forms before January 31st of each year for the year prior,  or earlier if required by law. 

If you don't qualify for either type of 1099, you can still look at your deposits online or your past history in the app to help you file your taxes, but we generally recommend looking at actual payments to your account. 

If you have W2 employees that work for you, that you need to report information on, we currently do not help there, but we may add a feature to help in the future.

More on tax, taxes, and the 1099-K from the IRS:

https://www.irs.gov/forms-pubs/form-1099-k-merchant-card-and-third-party-network-payments