1099-K forms are tax documents used in the USA to report payments made by payment settlement entities to certain payees. In this case, the ‘settlement’ entities are our payment providers, Stripe and PayPal.
These forms are important for individuals or businesses involved in payment card transactions or third-party network transactions, like those used in ConnectionPoint’s platforms.
As we are a Canadian company and do not hold any funds, we do not file 1099-K forms. Canadian organizations or individuals cannot provide these forms because they are specific to the United States. Canadian tax regulations are different from those in the USA and have different tax reporting requirements and forms.
US campaign owners wishing to receive a 1099-K form for their income tax will have to contact Stripe and/or PayPal.
Here are instructions on downloading your 1099K form with PayPal:
https://www.paypal.com/ca/cshelp/article/how-do-i-find-download-or-request-a-correction-to-my-1099-help546
Here is information from Stripe on 1099K forms and their platform:
https://support.stripe.com/questions/1099-k-forms-issued-by-stripe
This information is intended to be helpful and point our US users in the right direction. Tax laws and regulations can change, so it’s advisable to consult with a tax professional or the IRS for the most current guidance related to 1099-K reporting.
