Intouch Insite Tax Forms
Warning: For Full Access Please Log In or Create an Account (Free)
I got an email with the information. In the past ,I have had to go to payments and then total all payments for the year.
My belief is that since they pay via PayPal, tax forms would be supplied by PayPal only if PayPal is required to do so. The IRS has decided to postpone the implementation of the need for PayPal to send a 1099 form if the amount sent is $600 or more. The following is from the PayPal website:
"How these new tax reporting changes may impact you when paying or accepting payments with PayPal and Venmo for goods and services
Update December 30, 2022
The IRS has recently announced a delay in implementing the $600 reporting threshold for goods and services transactions, reverting the 2022 requirement for Form 1099-K reporting back to the 2021 figures (total payments exceed $20,000 USD and there are more than 200 transactions). This means that similar to prior years, PayPal and Venmo will continue to follow these IRS reporting thresholds."
So, unless you have combined payments from PayPal of over $20,000, you will not get a 1099 from PayPal this year. Since InTouch Insite uses PayPal, you should not be receiving a 1099 from InTouch Insight.
"How these new tax reporting changes may impact you when paying or accepting payments with PayPal and Venmo for goods and services
Update December 30, 2022
The IRS has recently announced a delay in implementing the $600 reporting threshold for goods and services transactions, reverting the 2022 requirement for Form 1099-K reporting back to the 2021 figures (total payments exceed $20,000 USD and there are more than 200 transactions). This means that similar to prior years, PayPal and Venmo will continue to follow these IRS reporting thresholds."
So, unless you have combined payments from PayPal of over $20,000, you will not get a 1099 from PayPal this year. Since InTouch Insite uses PayPal, you should not be receiving a 1099 from InTouch Insight.
Shopping Southeast Pennsylvania, Delaware above the canal, and South Jersey since 2008
I also got an email from PayPal, but when I tried to download the document it went into spin mode.
"I told myself to quit you; but I don't listen to drunks." -Chris Stapleton
PayPal created a 1099-K for me for a total significantly under $20 K.
If you made over $600 from mystery shopping for a MSC, you will be receiving a 1099-NEC. Bear in mind, depending on how the MSC calculates their $600 expenditure/payments to you, this may not hold true e.g. do they include reimbursements disguised as a flat fee to you?. The third party settlement companies will adhere to old reporting rules i.e. $20K or 200 transactions regarding 1099-K reporting.
I got a 1099 in the mail the other day from intouch.
Shopping Western NY, Northeast and Central PA, and parts of Ohio and West Virginia. Have car will travel anywhere if the monies right.
Sorry, only registered users may post in this forum.