1099K FAQs

What is a 1099K form?

Form 1099-K, Payment Card and Third Party Network Transactions is an IRS information return used to report certain payment transactions to improve voluntary tax compliance. For more information, please visit the Understanding your Form 1099-K page on the IRS site.

1099K Form Overview

The image above displays the current view of a merchant's 1099K form. Below, an index has been provided for each box within the 1099K form to help explain this form to merchants.

Filers TIN	Shift4's tax identification number
Payees TIN	Merchants' tax identification number
1a	Total gross amount for the current tax year
1b	Total of keyed sales
2	Merchants' SIC code
3	Total number of transactions for the current tax year.
4	Federal income tax withheld (BUWH)
5a-5l	Monthly processing amount
6	Merchants state
7	State identification number
8	State income tax withheld
Account Number	Bank ID (6788 or 2177) + MID (00XXXXXXXX)

Why were two separate 1099Ks mailed, but there is only one form showing electronically? 

Due to a Shift4 bank change that occurred on 10/01/2023, merchants will receive two separate 1099Ks by mail for the 2023 tax year, one per Bank ID (6788 or 2177). However, as a convenience to our merchants, we have consolidated these into one 1099K form that is available electronically on Lighthouse Business Manager (LBM) or Shift4Shop Online Business Manager. 

What information is included on a 1099K?

The 1099K form specifically reports transactions that were swiped from the first through the last day of the month. The IRS does not account for adjustments, credits, or refunds processed within a given month (which will not reflect on your 1099K form). The statement is a reflection of all deposits made within the month reported. This will take into effect any adjustments, credits, or refunds processed within a given month.

When will I receive my 1099K form?

The 1099K form will be mailed no later than January 31st to the legal address on file. You can expect to see this no later than the second week of February. These are also accessible in the Lighthouse Business Manager (LBM) for Shift4 merchants, and within the Online Store Manager for Shift4Shop merchants.
If you need an additional copy, you may submit your request via live chat or webform at www.shift4.com/support, or you may call Customer Support at 888.276.2108.

*Please note this form will be a truncated version of the original that was mailed.
 

I have multiple businesses, but I only received one 1099K form?

This will occur when the Federal Tax Id number listed on each of your merchant accounts is identical. Page 2 of your 1099K form will provide a monthly breakdown for each account reported under the listed Federal Tax ID Number. 

What if I need each of these accounts to report separately moving forward?

You may send in a copy of your signed W-9 form AND an EIN documentation to [e-mail] via live chat or webform, and we will have this updated for the current tax year. 

What if my information is incorrect on the 1099K form? (Address, Business name, Federal Tax Id number)

You may send in a copy of your signed W-9 form AND an EIN documentation to [e-mail] and we will have this updated for the current tax year. 

** Please keep in mind that any corrections needed for the previous filing year will need to be completed by the merchant’s accountant or CPA.  

Are you able to help me complete my taxes with the 1099K form information?

Unfortunately, we cannot. We would recommend working with your accountant or a professional tax consultant.

Why doesn’t my 1099K form monthly breakdown match my Shift4 statements?

Your 1099K specifically reports transactions that were swiped from the first through the last day of the month. Your statement is a reflection of all deposits made within the month reported.

Internal:

Are you able to help me reconcile my taxes with the 1099K form information?

This Zendesk article will help you reconcile a 1099K with the merchant’s statements.

If my account was subject to backup withholding, where is this reported?

If the merchant account was subject to a withholding at any time during the listed tax year, the amount withheld will be reported in box 4 of the 1099K form.  

Where can I send a 1099K form if the merchant has requested a copy of this?

1. First, advise that all 1099K’s are available on Lighthouse Business Manager (LBM).
2. Owner requesting a copy: CSE may send the redacted form.
3. Secondary Owner requesting a copy: CSE may send the redacted form.
4. Authorized Contact requesting a copy: CSE may send the redacted form only to the email or legal mailing address on file.
5. Unauthorized contact requesting a copy: Unfortunately, we cannot send this form due to the information it contains. We must speak with a listed owner or authorized contact person. 

Note: If the merchant has an active LBM account but still requests for the form to be sent by the agent the copy found in LBM can be sent to the DBA email without prior redaction.

1099K Form Request Script

Dear Valued Merchant,

Thank you for contacting the Customer Support team. We have attached the requested 1099K form. Should you have any further questions or concerns, please feel free to reply to this ticket, submit a request via live chat or webform at www.shift4.com/support, or call Customer Support at 888.276.2108.

For more information on the 1099K Form, please visit https://www.irs.gov/Businesses/Understanding-Your-1099-K. We value your business and appreciate the opportunity to serve you. We would like to hear your feedback regarding the phone conversation with your support representative. Please take a moment to complete the survey emailed to you; we would greatly appreciate it.

Thank you for your time & assistance.