Frequently asked questions about Form 1099-K

What is Form 1099-K?

Form 1099-K in an IRS form that reports payment card and third-party network transactions. You’ll use it when filing your taxes.

What information is included on the Form 1099-K I got from Wave?

The Form 1099-K you receive from Wave reports the gross processing volume of payments made by credit card in your Wave Payments account. The gross processing volume is the total amount you've processed through Wave in a calendar year before fees, refunds, or adjustments. 

Will I receive a Form 1099-K from Wave?

You will receive a 1099-K form from Wave if you process payments with Wave and meet the minimum reporting requirement set by the IRS.

Federal limits changed in 2022. To receive a 1099-K for 2022 you must have:

  1. Processed a minimum of $600, AND
  2. Any number of transactions

You can find more information on 1099-K forms on this IRS website: Understanding your Form 1099-K.

Where will my form be sent?

Your 1099-K will be sent to the business address you registered when signing up for Wave Payments.

If the address on your payments profile is incorrect and you did not receive the form, click on the help button in the bottom right corner of your Wave account, and type 1099-K. Mave, our support chatbot will help you submit a request with the required information. Our Support Team will then email you with a digital copy of the form for your records, and update your address on file.

The information on my form is incorrect. What do I do?

The deadline for amendment requests for Form 1099-K has passed. Amendments to your Form 1099-K for tax year 2021 are no longer possible.