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Merchant Accounts: 1099-K and Tax FAQ

Q&A regarding 1099's for merchant accounts

Lisa avatar
Written by Lisa
Updated this week

Overview

As required by law, Boulevard, working in conjunction with our payment gateway partners, issues 1099-K forms each January to merchant accounts that processed at least $20,000 in gross payments and completed more than 200 transactions during the prior fiscal year.

Each merchant is responsible for reporting and remitting their own taxes. A separate 1099-K is issued for each eligible merchant account that meets the IRS reporting threshold. For businesses with multiple locations or secondary merchant accounts, any accounts that share the same TIN/EIN will receive a single combined 1099-K.

For more details on how merchant accounts are structured, please refer to our Merchant Account FAQ.

Q: How are 1099-Ks delivered?

All 1099-Ks are physically mailed to the registered business address we have on file for your merchant account. This is not always your business location address, but the address your business is registered under. You can verify this address in your Boulevard dashboard by going to your Business Details within your merchant account.

To view your registered business address, or if it has changed since submitting your merchant account details and you need to update it, you can do so by logging into your Boulevard dashboard and navigating to Manage Business (Gear Icon) → Payment Processing → View Account → Business Details.

Q: When will I get my 1099-K?

1099-K forms are postmarked by January 31 and typically arrive within 5–7 business days. If you haven’t received yours by February 15, please reach out to Boulevard Support, and we’ll be happy to send you a digital copy by email.

Exciting News: Our teams are working on an exciting new feature that will deliver your 1099-Ks directly to your Boulevard dashboard 🎉 No more worrying about mail delays or submitting requests. Keep an eye out for this update by the end of February!

Q: Why did I not receive a 1099-K?

You will only receive a 1099-K if your specific merchant account processed more than $20,000 in payments and had over 200 transactions within the previous calendar year via one of our payment gateways. If you did not receive this form but believe you have processed more than this threshold, you can use your Monthly Activity reports within the Payment Processing section of the Boulevard dashboard to verify processing amounts. Feel free to contact Boulevard Support for additional assistance.

Q: What should I do if there is incorrect information on my 1099-K?

Reach out to Boulevard Support, who will get you in touch with our Payments team. Please do not include any sensitive information, such as your SSN or EIN, in your initial request. Our Payments team may require additional documentation, such as your EIN Confirmation Letter (Form CP-575 or 147c), at which point we will provide you a secure link to submit those documents.

Q: What should I do if my 1099-K was mailed to the wrong address?

If you believe your 1099-K was mailed to the wrong address, you can update your registered business address by logging into your Boulevard dashboard and navigating to Manage Business (Gear Icon) → Payment Processing → View Account → Business Details.

While we cannot mail a new copy out, please reach out to Boulevard Support, and we’ll be happy to send you a digital copy by email.

Keep an eye out: Our teams are working on an exciting new feature that will deliver your 1099-Ks directly to your Boulevard dashboard 🎉 No more worrying about mail delays or submitting requests. Keep a lookout for more on this update by the end of February!

Q: Can I change the address the 1099-K gets mailed to?

You cannot change the address your 1099-K gets mailed to unless your registered business address has changed. This is the address you registered your business under. If it has changed, you can update this by logging into your Boulevard dashboard → navigate to Manage Business (Gear Icon) → Payment Processing → View Account → Business Details.

Q: Why did I receive two 1099-Ks?

This past year, Boulevard updated our payment gateway and is in the process of transitioning all businesses to it. If you received two 1099-Ks, this means your merchant account updated to our new payment gateway. Each gateway is required to issue its own 1099-K covering the portion of transactions it processed during the year, provided that each specific gateway processed more than $20,000 and 200 transactions. As a result, you received one 1099-K from each payment gateway rather than a single form.

Together, the two forms reflect your total reportable transactions for the year. When preparing your taxes, you should use both 1099-Ks to ensure your reporting is complete and accurate.

If you have questions about how this applies to your specific tax situation, we recommend consulting your accountant or tax advisor. You’re also welcome to reach out to Boulevard Support if you have questions about the amounts reported. We’re happy to assist.

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