As a legal tax requirement mandated by the IRS, any Tasker who exceeds $20,000 and completes 200 transactions in the 2023 calendar year will be required to complete taxpayer ID verification with Stripe and the IRS in order to receive their 1099-K form. Payouts will be paused for any Taskers who do not complete this verification.
Here are the key dates for the 1099-K process:
- Tax information verification begins: November, 2023
- Tax information verification closes: January 15, 2023
- Digital 1099-Ks are available to download: on or before January 31, 2024
- Physical 1099-Ks are mailed: on or before January 31, 2024