Aug '24 (edited) • General discussion
Stripe 1099-K?
I read online that Stripe usually sends the IRS 1099-K even if the LLC is foreign-owned.
Is there a way to avoid them sending the 1099-K?
Are there any other payment processors that wouldn't send it?
Those of you who use Stripe, have you had issues with the IRS?
It's my understanding that this form may lead the IRS to wrongly assuming taxable income and sending penalty letters. I understand that it's possible to respond and explain to them that the foreign-owned LLC has no ECI, and thus is not liable to tax, but I'd rather avoid having to correct mistakes by preventing them in the first place.
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Stripe 1099-K?
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