Every year, the United States IRS requires that Stripe provide a form called a 1099-K for each Taper, Inc. / Stripe account that meets all of the following criteria in the previous calendar year:
- Account is based in the United States (Owners do not need to be US citizens.)
- More than $20,000 USD in total gross volume
- More than 200 charges
Cash Payments are not included and will not be reported by Taper.
The 1099-K is a purely informational form that summarizes the sales activity of your account and is designed to assist you in reporting your taxes. It is provided to you and the IRS, as well as some US states.
See more information here on Stripe