What you need to know if you receive payments for goods and services?
When you're paid for goods and services, the US Internal Revenue Service (IRS) considers this reportable income.
When your goods and services payments reach the reporting threshold (more than $20,000 USD and 200 transactions), we're required to send you a Form 1099-K.
US tax laws require us to apply 24% backup withholding to your payments when we don't have your tax ID.
