Who is a payee in Form 1099-K?
233 views | Last modified 10/17/2023 7:16:05 AM EST | Added by TaxBandits Team

In Form 1099 K, the payee refers to the individual who accepts the payment from the Payment Settlement Entity (PSE) or an Electronic payment facilitator on behalf of the purchaser or customer. The payee can be any person from governmental units or any agent receiving the payments through payment cards, such as credit cards or debit cards. It also includes any person accepting payments from Third Party Settlement Organization (TPSO).