Unfortunately, Stride does not have visibility into when 1099s are sent and to whom they are sent to. Most companies will send out Form 1099 to employees by January 31, 2023, but for any questions or concerns, you will need to reach out to your company/platform!
Your 1099-NEC and 1099-K are used to report direct payments from a company for your services. These documents are going to come directly from the company or platform you work for!
Some useful information about 1099-NEC and 1099-K reports:
The 1099-K is used to report payment transactions that were facilitated by a third party. 1099-Ks are issued to anyone who:
- Generated income from credit, debit, or pre-paid card transactions (such as from an Uber passenger or Postmates/Instacart/Doordash customer), OR
- Had over $20,000 in sales and more than 200 individual transactions through a third-party processor. Because this threshold is so high, some companies such as Uber will send a 1099-K even if you didn’t reach that threshold, but other companies may not. Your income must be reported regardless!
The IRS has advised "existing 1099-K reporting threshold of $20,000 in payments from over 200 transactions will remain in effect" despite the delay "in reporting thresholds for third-party settlement organizations set to take effect for the upcoming tax filing season." It was announced in December 2022 that third-party settlement organizations will not be required to report tax year 2022 transactions on a Form 1099-K to the IRS or the payee for the lower, $600 threshold amount for the upcoming 2023 tax filing season.
Beginning with the 2020 tax year, the IRS reintroduced form 1099-NEC as the way to report self-employment income instead of 1099-MISC. Businesses will need to use this form if they made payments totaling $600 or more to a nonemployee, such as an independent contractor. As an example, you will receive a 1099-NEC from Uber if you did something like:
- Referred other drivers to drive for Uber
- Received a bonus for driving a certain number of trips
If you don't make $600 or more for a specific company, they do not have to send you a 1099 tax form, and many companies choose not to.
- Important to note, you still must report this income when filing taxes!
- You can use deposit records either from your bank or from records directly within the app/platform you work for!
If you need your 1099 or need to update any personal information on your 1099, you will need to reach out to the platform you work for. We’ve collected this list of resources from a few of our partners.
Please note that several of our partners use Stripe to send out 1099 tax forms. While Stride and Stripe have very similar names, we are different and separate companies. If you need to contact Stripe regarding your 1099 tax form, please refer here: Stripe Express - Contact support.
Have a look at this resource for more information: 1099 Tax Rate for 2023 and 5 More 1099 Worker Tax Tips
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