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.

big news for small business owners 1099 K Infographic
Brought To You By Outright.com

Photo Credit: Celeste Cota

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About the author: Carrie Smith is the financial artist and editor behind Careful Cents. She helps creative entrepreneurs make a living with their creations, and reach financial freedom through systems and financial organization. She’s been featured in The Huffington Post, Glamour Magazine, Kiplinger Finance and several other business websites. In May 2013 she quit her full-time accounting job to pursue entrepreneurship and blogging. You can find her 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.