What is Form 1099-K?
Form 1099-K is an IRS tax form that reports credit card payments and third-party network transactions. Form 1099-K reports the gross total of approved credit card payments your business received through Wave, before fees, refunds, or adjustments.
Wave automatically files this form with the IRS on your behalf. You will receive a paper copy in the mail and a downloadable copy will be available in Wave.
Will I receive a Form 1099-K?
You will receive a 1099-K form from Wave if, in the previous year, you processed payments with Wave’s online payments and met the minimum reporting requirement set by the IRS or your state.
To understand if your business qualifies for a Form 1099-K, see Form 1099-K: Federal and state thresholds.
Eligible businesses will find Form 1099-K in Wave by January 31.
Where can I access my 1099-K?
If you use a pop-up blocker, add waveapps.com to the list of allowed sites in order to download your 1099-K.
Only the account owner and admin collaborators can view and download Form 1099-K. Learn more about user roles and permission levels for collaborators.
To download your Form 1099-K:
- Log in to your account through waveapps.com.
- On the left-side menu, click Reports.
- Under the Taxes section, click Form 1099-K.
Why does my form say Worldpay?
Your Form 1099-K from Wave will be issued by Worldpay, our payment processing partner.
Why can’t I download my Form 1099-K in Wave?
If you do not see a Form 1099-K in Wave, your business may not be eligible. To understand if your business qualifies for a Form 1099-K, see Form 1099-K: Federal and state thresholds.
If you see an error message that you cannot download your form in Wave, your TIN may be used for more than one business. If so, our support team can help submit a request to receive a digital copy of your Form 1099-K. You will need to complete and provide a
Form W-9 for each business.
To make a request, open Mave, Wave’s automated chatbot, and type Human support downloading digital copy of form 1099-K.
How can I get a copy of my 1099-K from a previous tax year?
If you require a copy of Form 1099-K from 2021 or earlier, our support team can request a digital copy. To make a request, open Mave, Wave’s automated chatbot, and type Human support with digital copy of form 1099-K, then provide the year and reason for the request.
The address on my Form 1099-K is wrong. How do I fix this?
If your business is a sole proprietorship or a single-member LLC, your principal address will appear on Form 1099-K. If your business is a multi-member LLC, partnership, corporation, limited liability, or non-profit, your business address will appear on the form.
Form 1099-K cannot be updated to change an address. The IRS uses your business name and TIN to verify information, rather than the address. If the address is incorrect, our support team can help update it for future forms. You will need to confirm your old address, new address, provide a document showing your business name and the correct address, and provide a link to your website or social media account.
To update your address in Wave, open Mave, Wave’s automated chatbot, and type Human support downloading digital copy of form 1099-K.
Updating your address within Wave will not change the address used for online payments.
My Form 1099-K has the wrong name. How do I fix this?
If your business is a sole proprietorship or a single-member LLC, your name and SSN will appear on Form 1099-K. If your business is a multi-member LLC, partnership, corporation, limited liability, or non-profit, your business name and EIN will appear on the form. Your business structure is chosen at the time of creating your Wave account and cannot be changed.
If the name or TIN is incorrect, our support team can help. You will need to complete and provide a Form W-9. To update your name or TIN in Wave, open Mave, Wave’s automated chatbot, and type Human support to update 1099-K, then provide the correct name and business structure.
You can request an amendment from the date Form 1099-K is sent until June 30 of the same year.
For additional information, see the IRS website Understanding Your Form 1099-K | Internal Revenue Service.