US tax law requires all platforms that offer payment processing capabilities to provide both the IRS and you with a Form 1099-K if you processed at least 200 credit card transactions totaling over $20,000 during the calendar year.
If you fall into the above category, we will automatically send a 1099 for all credit card payments processed during the calendar year. This will be sent automatically, early in the following year. This form will only cover credit card transactions and will not display any cash or check transactions. You are solely responsible for reporting cash and check transactions appropriately.
If you do not fall into the above category, tax law does not require issuance of a Form 1099-K, and this will not be sent.
GlossGenius provides several reports which can be ran for the full year and provided to your accountant to assist with filing taxes. Tap More -> Reports from the GlossGenius dashboard to see the sales, retail, and sales tax reports which can be printed out for the full year and emailed directly to your inbox for easy printing or forwarding.