Beginning with the 2011 tax year, all payment providers based in the United States, including CCBill, are required to report transaction information to the IRS (Internal Revenue Service) about merchants who use CCBill's processing service to collect payment for goods and services sold<\/p>\n\n\n\n
IRS regulations (per IRC Section 6050W) stipulate that CCBill must now file Form 1099-K for all merchants that fit the following criteria:<\/p>\n\n\n\n
In an effort to help you understand these changes, we have put together the answers to several Frequently Asked Questions surrounding 1099-K compliance, collected here and linked below for your convenience.<\/p>\n\n\n\n
At this time, 1099-K regulations do not apply to affiliates<\/p>\n\n\n\n
For more information on IRC Section 6050W, consult your tax professional or refer to the IRS site at http:\/\/www.irs.gov\/irb\/2010-43_IRB\/ar08.html<\/a>.<\/p>\n\n\n\n As long as the address on the account is located in the U.S., we are required to report the tax information to the IRS.<\/p>\n\n\n\n We cannot provide assistance on how to claim or report the funds; please consult your tax advisor.<\/p>\n\n\n\n In order to move your account out of the U.S., you must complete an ownership change. You or the person\/company whose information is being added need to provide identification or other documentation that the company no longer resides in the U.S. (It must show a non-U.S. address or be from a non-U.S. country.)<\/p>\n\n\n\n However, our company policy is that information we collect for 1099-K reporting does not have to match the information we collect for merchant account registration or underwriting. Therefore, you can supply a non-U.S. person\/company\u2019s tax information to us for 1099-K tax reporting (they must have a U.S. Tax ID to do this) without doing an ownership change, and all taxes will be reported to that person\/company, even if they are not in U.S.<\/p>\n\n\n\n Account changes cannot be retroactive.<\/p>\n\n\n\n We can contact the current owner to have them provide updated tax information, and once changed and validated you will no longer receive a 1099-K for any funds on that account.<\/p>\n\n\n\n We cannot provide assistance on how to claim or report the funds; please consult your tax advisor.<\/p>\n\n\n\n Information on refunds, chargebacks, and affiliate payouts for your accounts and subaccounts are already available in the Transaction and affiliate reports in the Admin Portal.<\/p>\n\n\n\n Fees can be viewed in the Check Amounts report in the Admin Portal.<\/p>\n\n\n\n Payouts to splitees for any subaccount under your main account can be viewed using the \u201cemail\u201d feature in the Check Amounts report. For information about splitees to subaccounts in someone else\u2019s main account, please contact our 1099 Team at 1.855.330.6230 or 1099team@ccbill.com<\/a> for assistance.<\/p>\n\n\n\n Yes, you can. Please send an email to accountsupport@ccbill.com <\/a>to update your 1099K address. Be sure to include all of your relevant account information in the email and send it from the email address we have on file for your account.<\/p>\n\n\n\n No, it doesn\u2019t. Our company policy is that the information we collect for 1099-K reporting does not have to match the information we collect for merchant account registration or underwriting.<\/p>\n\n\n\n The IRS regulations that require us to send you 1099-Ks for gross transactions do not require signed W-9 forms, and only require that we validate client-provided names and TINs against the IRS databases.<\/p>\n\n\n\n Account ownership changes are effective at the beginning of the next pay week (Sunday 12:00 am MST\/UTC -7) either:<\/p>\n\n\n\n Once that date is reached, all funds prior to the switch are the responsibility of the seller (old owner), and all funds beginning with that pay period are the responsibility of the buyer (new owner).<\/p>\n\n\n\n We cannot provide assistance on how to claim or report the funds. Please consult your tax advisor for further information.<\/p>\n\n\n\n The affiliate payouts taken from your gross are available in reports in the Admin Portal.<\/p>\n\n\n\n We cannot provide assistance on how to claim or report the funds, please consult your tax advisor.<\/p>\n\n\n\n Payouts to splitees for any subaccount under your main account can be viewed using the \u201cemail\u201d feature in the Check Amounts report. For information about splitees to subaccounts in someone else\u2019s main account, please contact our 1099 Team at 1.855.330.6230 or 1099team@ccbill.com<\/a> for assistance.<\/p>\n\n\n\n We cannot provide assistance on how to claim or report the funds, please consult your tax advisor.<\/p>\n\n\n\nFrequently Asked Questions<\/h2>\n\n\n\n
I don\u2019t live in the U.S. but my account is located in the U.S. Do I have to or how do I claim those funds?<\/h3>\n\n\n\n
I want to move my account out of the U.S. Can I do that and can that be retroactive?<\/h3>\n\n\n\n
I no longer own the account but it is still in my name but I have not received any of the funds generated. How do I report that?<\/h3>\n\n\n\n
Will you be providing me with a breakdown of the fees, refunds, chargebacks, affiliate payouts, and splitee payouts?<\/h3>\n\n\n\n
Can I change the address the 1099K is sent to?<\/h3>\n\n\n\n
Does the information I give you have to match what is on my account?<\/h3>\n\n\n\n
Why aren\u2019t you requiring that we send in signed IRS form W-9s?<\/h3>\n\n\n\n
What date do you use for Change of Account Ownerships and are the transactions split between days or billing periods between the seller and buyer?<\/h3>\n\n\n\n
How am I supposed to report splitee income when they are not located in the U.S.?<\/h3>\n\n\n\n
How am I supposed to report affiliate income when you won\u2019t provide it to me?<\/h3>\n\n\n\n
How am I supposed to get a breakdown of what my splitees were paid so I can 1099 them?<\/h3>\n\n\n\n
How do I update my tax information?<\/h3>\n\n\n\n