Form 1099-K - Payment Card And Third Party Network Transactions - 2014 Page 5
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8Instructions for Payee
Box 1b. May show the aggregate gross amount of all reportable
You have received this form because you have either: (a) accepted
payment transactions made to you through the PSE during the
payment cards for payments, or (b) received payments through a third
calendar year where the card was not present at the time of the
party network that exceeded $20,000 in gross total reportable
transaction or the card number was keyed into the terminal. Typically,
transactions and the aggregate number of those transactions
this relates to online sales, phone sales, or catalogue sales. If the box
exceeded 200 for the calendar year. Merchant acquirers and third
for third party network is checked, or if these are third party network
party settlement organizations, as payment settlement entities (PSE),
transactions, card not present transactions will not be reported.
must report the proceeds of payment card and third party network
Reporting of this amount by the PSE is optional for 2014.
transactions made to you on Form 1099-K under Internal Revenue
Code section 6050W. The PSE may have contracted with an
Box 2. Shows the merchant category code used for payment card/
electronic payment facilitator (EPF) or other third party payer to make
third party network transactions (if available) reported on this form.
payments to you.
Box 3. Shows the number of payment transactions (not including
If you have questions about the amounts reported on this form,
refund transactions) processed through the payment card/third party
contact the FILER whose information is shown in the upper left corner
network.
on the front of this form. If you do not recognize the FILER shown in
Box 4. Shows backup withholding. Generally, a payer must backup
the upper left corner of the form, contact the PSE whose name and
withhold if you did not furnish your taxpayer identification number
phone number are shown in the lower left corner of the form above
(TIN) or you did not furnish the correct TIN to the payer. See Form
your account number.
W-9, Request for Taxpayer Identification Number and Certification,
See the separate instructions for your income tax return for using
and Publication 505, Tax Withholding and Estimated Tax, for
the information reported on this form.
information on backup withholding. Include this amount on your
income tax return as tax withheld.
Payee's identification number. For your protection, this form may
show only the last four digits of your social security number (SSN),
Boxes 5a-5l. Shows the gross amount of payment card/third party
individual taxpayer identification number (ITIN), or adoption taxpayer
network transactions made to you for each month of the calendar
identification number (ATIN). However, the issuer has reported your
year.
complete identification number to the IRS and, where applicable, to
Boxes 6-8. Shows state and local income tax withheld from the
state and/or local governments. Note. If your EIN is reported in this
payments.
box, you should see the complete number in this format (XX-
XXXXXXX).
Future developments. For the latest information about developments
related to Form 1099-K and its instructions, such as legislation
Account number. May show an account number or other unique
enacted after they were published, go to
number the PSE assigned to distinguish your account.
Box 1a. Shows the aggregate gross amount of payment card/third
party network transactions made to you through the PSE during the
calendar year.
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Parent category: Financial