1099K Forms in Ludus

learn about 1099 k forms if you or your program is wondering about 1099ks and whether you will receive one, the irs guidelines require us to send this document to you if the thresholds are met (e g , if you processed $20,000 or more in gross payments) the document is used for tax preparation purposes forward the document to your business department or treasurer please note that this is an informational document for nonprofits, but forwarding it to the appropriate person is still recommended note you can review the https //www irs gov/businesses/understanding your form 1099 k for more information what is a 1099 k? 1099 ks are documents that show the total processed volume for your program in a calendar year who receives a 1099 k? 1099ks are only sent to programs that have processed over $20,000 in gross payments how will we receive the 1099 k? if your program is on checks for payouts, you will receive them via your account digitally or by mail if desired if your program uses direct deposits for payouts, the 1099 k will come from stripe note the document is used for tax preparation purposes forward the document to your business department or treasurer please note that this is an informational document for nonprofits, but forwarding it to the appropriate person is still recommended under the 1099 k section of the ludus tax center, if you are on paper checks, you can opt to download your tax forms digitally, or they can be sent via the mail note if you are on direct deposits, you will be receiving your 1099 k via stripe additionally, if your group switched payout methods at some point during the year, anything from direct deposits will be sent to you via email by stripe if opting in to electronic delivery and downloading via your ludus account, select "opt in" at the top of the 1099 k tab note if you would like a copy mailed to you, please email finance\@ludus com