1099Ks and Ludus

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 $5,000 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 if you are a nonprofit, but forwarding it to the appropriate person is still recommended note you can review the irs website for more information what is a 1099k? 1099ks are a document that shows the total processed volume for your program in a calendar year who receives a 1099k? 1099ks are only sent to programs that have processed over $5,000 in gross payments how will we receive the 1099k? if your program is on checks for payout, you will receive it in the mail from ludus if your program is on direct deposits for payout, the 1099k 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 if you are a nonprofit, but forwarding it to the appropriate person is still recommended