Who is referred to as Electronic Payment Facilitator in Form 1099-K?
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Last modified 10/16/2023 7:20:51 AM EST |
Added by TaxBandits Team
Applicable To
94X
1099
W-2
ACA
W-4
An Electronic Payment Facilitator offers payment services for merchants who want to process payments from customers online. Regardless of the business size, merchants can get their own account from banks or other payment service providers with access to the payment services or systems. After you get your account, your customers can complete payment transactions through your account.
Some of the Electronic Payment Facilitators are Amazon, PayPal, Stripe, and Due.