The Fight Against the New 1099K Tax Form (Infographic)

In January 2012, small business and online retailers received the new 1099K tax forms. This form has sparked a strong reaction from individuals and online sellers like eBay, Etsy and Amazon sellers.

What is the 1099K form?

If you’re an online retailer, sell merchandise online, or receive credit cards payments via Paypal you might get this tax form if:

  • Your small business had over $20,000 in gross sales AND
  • You had over 200 transactions or items sold

This infographic from Outright.com sheds some more light on what this big news could mean for sellers.

Brought To You By Outright.com

Photo Credit: Celeste Cota

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About the author: Carrie Smith is the financial artist and owner of Careful Cents, a site that helps creative freelancers discover the art of making a living. In May 2013 she quit her full-time accounting job to pursue entrepreneurship and blogging. Since then she’s been featured in sites like The Huffington Post, Glamour Magazine, and Kiplinger Finance. In her spare time she enjoys painting, sketching, and making food with her chef husband. You can connect with her in real time on Twitter or Instagram: @carefulcents.

Comments on this entry are closed.

  • Kate Miller April 27, 2012, 3:49 pm

    This is a great infographic. It will be interesting to see what the future holds for the 1099-K. Huge thanks to Outright.com for putting this together.