| Please note: Phrendly issues Form 1099-K only when a member’s earnings meet the current IRS reporting threshold for a calendar year. IRS reporting thresholds may change over time; for the most up-to-date information, please refer directly to the Internal Revenue Service (IRS) website. |
📄 Form 1099-K Reporting
The Internal Revenue Service (IRS) requires businesses that process payments (such as Phrendly) to issue a Form 1099-K to individuals who are eligible to work in the United States when their earnings meet the current IRS reporting threshold for a calendar year.
If your total earnings from Phrendly in a calendar year (January 1 at 12:00 AM UTC through December 31 at 11:59 PM UTC) are below the IRS reporting threshold, you will not receive a Form 1099-K, and your earnings will not be reported to the IRS for that tax year.
If your total earnings from Phrendly meet or exceed the IRS reporting threshold for the calendar year (January 1 at 12:00 AM UTC through December 31 at 11:59 PM UTC, as shown on your Payout Summary page), Phrendly will issue a Form 1099-K and report your gross earnings to the IRS.
Your Form 1099-K from Phrendly, LLC will include a monthly summary of all earnings for the tax year and will be available in your Phrendly account by January 31 of the following year.
🧾 Accessing Your Tax Documents
To view or download your tax forms, go to Transaction Details, click Payout Summary at the bottom of the page, and then select Tax Documents.
If you don’t see a tax document for a specific year, it means a Form 1099-K was not issued for that year.
🔒 Payee Information Verification
In order to prepare your tax form, we must verify that your Social Security Number (SSN) or Employer Identification Number (EIN) matches your “Payable To” name. This verification process can take up to 5 business days. You may Edit Your Payee Information if you need to make changes or add missing details.
If your Payee Information cannot be verified before you are paid $500.00 within the tax year, your Phrendly payments may be temporarily suspended. Your earnings will continue to accumulate and will remain safe in your Phrendly balance until your Payee Information can be successfully verified.
📌 Important Note
Although we are happy to assist with general questions, we are unable to provide tax-related advice or filing guidance. We strongly recommend consulting a qualified tax professional if you have questions about how these requirements may affect you.