

How are you submitting 1099s to the IRS this year? (Balanced, YC W11) - jareau
http://blog.balancedpayments.com/1099s/

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molsongolden
If you make your large payments with a credit card you can both rack up awards
and avoid the need to file a 1099-misc.

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wahdeh
Some vendors only accept check or paypal since they don't have a merchant
account to accept credit cards, so this isn't a complete workaround.

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cyan
Is the marketplace required to issue the 1099-MISC if the threshold for the
1099-K is not met if all payments are done via credit card? I'm guessing the
answer is "no" but the blog post isn't quite clear on that.

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jareau
No. Using Balanced, the marketplace isn't responsible for submitting any 1099
forms; Balanced is. So if the merchant hasn't hit the $20K/200 trnxs threshold
they simply won't receive a 1099 from either the marketplace or Balanced.

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jareau
Specifically, I'm curious how online marketplaces like Etsy, Taskrabbit, and
Airbnb handle this problem.

