How to access your 1099-K tax form

If you qualify for a 1099-K form, an electronic version of the form will be available under the Reports section in Poynt HQ by the end of January. We will email you once your form is ready for download.

Everyone using Poynt HQ who qualifies for a 1099-K form will also automatically receive a physical copy at the address we have on file.

Am I eligible for a 1099-K form?

The 1099-K form summarizes the payment card transactions for the prior year. Cash transactions are not included. Each year, we send a 1099-K form to GoDaddy Payments merchants that meet certain criteria. If your company received gross payments in 2024 that are more than $5,000, you will receive a 1099-K form from us.

If you didn't meet the $5000 threshold, a 1099-K form isn’t required so you won't receive one. 

Note that on November 21, 2023, the Internal Revenue Service (IRS) rolled back a new $600 qualification threshold for 1099-K reporting for the 2024 tax year, and the current qualification threshold is $5,000 instead. The threshold for 2025 will be $2,500.

How to prepare for tax season

To avoid a potential delay in receiving your 1099-K form, make sure your mailing address, email address, first and last name, and company name are updated. To review your current information, from Poynt HQ, select Business Settings, then select Contact info. You should review the following:

• Owner contact: Under Contact Info, ensure that the first and last name match the ones from your ID.
• Address: Under Basic info, verify your mailing address.
• Legal name: Ensure that the correct company name is entered in the Legal Name field.
  • If your company is registered with the IRS (LLC, Sole Proprietorship, etc.), the name from this field must match with the IRS registration.

Here's how to update your contact info if needed.

If you need assistance updating your information, please reach out via email. Our team will be happy to work with you to update any information. Please do not include any personal information.

What is my Taxpayer Identification Number (TIN) and why is it important?

Your TIN can be either your Employer Identification Number (EIN) or your Social Security Number (SSN). Trusts, estates, partnerships, and similar entities must use EIN as their TIN.

As a payment processor, we have to file your TIN with the IRS, and therefore, you must have the correct TIN associated with your GoDaddy Payments account. The IRS cross-references that number with the information they have in their files or the files of the Social Security Administration (SSA).

If your TIN records don't match the records from the IRS, we will send you an email. You must follow the link from that email to complete the verification steps.

What if I didn't provide my EIN during onboarding?

• If you didn't provide your EIN during onboarding, we will use your SSN to issue 1099-K form.
• To report your EIN afterwards, you must contact us and provide EIN + IRS Notice before Jan 2025.
• If you request to add your EIN after Jan 2025, you may be charged a fee.
• For other issues or further assistance regarding your TIN, please reach out to Poynt Support.

Why are the numbers in my 1099-K form different than the numbers in Poynt HQ?

You may want to review your 1099-K form in comparison to the figures in Poynt HQ or your transaction reports.

There are a couple of reasons you may see a different amount on the form than you see in your reports:

• Payment method: The 1099-K form doesn’t include cash transactions - however, Poynt HQ reflects cash transactions. If you’ve accepted cash payments, those will appear in your Poynt HQ reports but won’t be included in the total on the 1099-K form.
• Time zone differences: The 1099-K form includes transactions made through December 31 (11:59 pm UTC). UTC (Coordinated Universal Time) may be different than the local time zone in Poynt HQ. Transactions made after that time will roll over to the following year.