What is a 1099-K form?

Form 1099-K, also known as Payment Card and Third Party Network Transactions, is used to report payments received through payment card transactions and/or settlement of third-party payment network transactions.

If you use Zenoti Payments as the processor for your daily payment transactions, you are required to report the income to the IRS (Internal Revenue Service) and pay taxes accordingly. The 1099-K form helps you report your income.

A screenshot of the 1099-K Form

What do I need to do?

You must access your 1099-K form in Zenoti and provide a consent on whether you want to receive a digital copy of the form, or you want the physical copy of the form mailed to you via the postal service.

Important: Once submitted, you cannot change your consent till January 31st of 2021.

How do I access my 1099-K Form?

Zenoti Payments makes it easier for you to access your 1099-K form and provide consent. Take the following steps:

  1. If Zenoti Payments is configured at the organization-level, navigate to Admin > Payments > Settings at the organization-level, OR if Zenoti Payments is configured at the center-level, navigate to Admin > Payments > Settings at the center-level.

The Payments Settings page opens.

2. For Zenoti Payments, expand the details drop-down arrow.

3. Go to the Registered Details tab.

4. You must login to your Zenoti Payments account to view the details.
Note: Your email address is auto populated.

5. Click Sign-in
The verification screen appears.
Zenoti will send a verification code to your email address.

6. Enter the verification code and click Verify.
The Registered Details appear.

7. Click 1099-K Form.

The delivery mode pop-up appears.

8. Provide your consent for any one of the following:

  • E-Delivery: If you want to download a PDF copy of the 1099-K form, choose this option and click Submit.
    Note: You can download the form only after 25th January 2021.

  • Mail: If you want to receive a physical copy of the 1099-K form via postal service, choose this option and click Submit.
    Note: Check the auto-populated address in the pop-up and click Confirm.

9. Click Done.
You have given your consent.
Note: Irrespective of your choice, an option to download a PDF copy will
be available after 25 January 2021.
Refer this external article by the IRS to understand your 1099-K form and how to fill it up.

After 25th January 2021, you can see the download option appear besides your 1099K form.

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