As a Third-Party Settlement Organization (TPSO) federal law requires Goodshuffle, Inc to submit form 1099-K’s to vendors who meet certain criteria. To submit these 1099-K forms we use Stripe.com (our payment gateway) to make this process as simple for you as possible.

Why is a Form 1099-K needed?

Goodshuffle Pro supports the processing of credit and debit card transactions for our vendors and that requires a Form 1099-K to be submitted to the IRS annually for every vendor that meets certain criteria.

You can find out more information regarding form 1099-K on Stripe's website (1099 K sections only) or on the IRS’s own website.

Do you meet the filing criteria?

As a TPSO, Goodshuffle, Inc is required to file a form 1099-K when reporting payments to a vendor that exceed both 200 transactions and $20,000 during the course of a year. (Source)

Do I need to do anything?

Stripe automatically determines who needs to file a form 1099-K and — once Goodshuffle has provided our information — an automated process will mail out the necessary forms to every account owner that meets the filing criteria.

Question?

If you have any questions regarding the process, please contact us at help@goodshuffle.com.

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