4 ms·
I assume you need to file a 1099-MISC with the IRS for each managed account that's setup on the system? If so, you might want to make this reporting requiremen
by alexandersingh 12y ago
I assume you need to file a 1099-MISC with the IRS for each managed account that's setup on the system?
If so, you might want to make this reporting requirement more visible in your documentation.
- bkrausz 12y agoWe will, by default, send out 1099-Ks to the managed accounts. We'll likely provide some flexibility here depending on what the platform would prefer, but we're still talking to platforms to find out what's ideal for them.
- pbreit 12y agoActually only if account does 200 txns and $20,000. http://www.irs.gov/Businesses/New-1099-K-Reporting-Requirements-for-Payment-Settlement-Entities http://www.irs.gov/Businesses/New-1099-K-Reporting-Requireme...