Common use of 1099 Reporting Clause in Contracts

1099 Reporting. The IRS may require ticket vendors to report the amounts Holder receives for selling or reselling tickets on such ticket vendor’s marketplaces. Ticket vendors are generally required to file a Form 1099-K report with the IRS if the gross amount of a Holder’s transactions on their marketplaces is $600 or more in a calendar year and will need to collect Holder’s Social Security Number or Employer Identification Number. Ticket vendors will generally provide the Holder with a copy of the Form 1099-K by January 31 of the following year. Some state taxing authorities may also require ticket vendors to report when Holder has made at least $600 in transactions on their marketplaces, although some states may require reporting based on different thresholds. When required, such ticket vendor will generally provide Holder with a copy of any required state forms.

1099 Reporting. The IRS may require ticket vendors to report the amounts Account Holder receives for selling or reselling tickets on such ticket vendor’s marketplaces. Ticket vendors are generally required to file a Form 1099-K report with the IRS if the gross amount of a an Account Holder’s transactions on their marketplaces is $600 or more in a calendar year and will need to collect Account Holder’s Social Security Number or Employer Identification Number. Ticket vendors will generally provide the Account Holder with a copy of the Form 1099-K by January 31 of the following year. Some state taxing authorities may also require ticket vendors to report when Account Holder has made at least $600 in transactions on their marketplaces, although some states may require reporting based on different thresholds. When required, such ticket vendor will generally provide Account Holder with a copy of any required state forms.

1099 Reporting. The IRS may require ticket vendors to report the amounts Holder receives for selling or reselling tickets on such ticket vendor’s marketplaces. Ticket vendors are generally required to file a Form 1099-K report with the IRS if the gross amount of a an Holder’s transactions on their marketplaces is $600 or more in a calendar year and will need to collect Holder’s Social Security Number or Employer Identification Number. Ticket vendors will generally provide the Holder with a copy of the Form 1099-K by January 31 of the following year. Some state taxing authorities may also require ticket vendors to report when Holder has made at least $600 in transactions on their marketplaces, although some states may require reporting based on different thresholds. When required, such ticket vendor will generally provide Holder with a copy of any required state forms.