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1099 reporting for PayPal and Venmo payments

July 16, 2021
July 16, 2021

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Q. Who is responsible for issuing 1099 forms for reportable payments to individuals made through PayPal and Venmo? 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.) PayPal is a third-party payment settlement organization which files Forms 1099-K to the IRS under the requirements of Reg. sec. 6050W for payments it processes…

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