1099-K reporting in the event of identify theft

March 1, 2022

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Q.┬áMy company is in the payments industry and issues Form 1099-K for merchant's payment card processing. What steps should be taken if a merchant claims the are a victim of identify theft and requesting a corrected 1099-K? A. (Answered by a 3rd party, independent advisory services firm offering experienced and practical help for tax regulatory compliance for Forms W-9, W-8, W-2, 1099, 1098, 5498, 945, 1042, 1042-S, and state reporting.) This answer is beyond our expertise but we can provide…

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