1099-K Statement? We just received a 1099-K from the IRS for tithes from Faithlife giving (and Worldpay eCommerce LLC). Our Treasurer is asking what we are supposed to do with it. Any idea of the answer I should provide?

  1. Great Question . Most Non-Profits report the 1099-K contributions on their 990-series forms and store the form for their records. You should connect with your Tax advisor to see what they recommend. The requirement previously was to report anything over $20,000. That has been updated to anything over $600. https://www.irs.gov/instructions/i1099k
    Instructions for Form 1099-K (01/2022) | Internal Revenue Service
    Instructions forForm 1099-K - Introductory Material Future Developments Whats New On-line pdf fillable Copies 1, B, 2, and C. Reminder Frequently asked questions. Instructions forForm 1099-K - Main Contents Specific Instructions Exception for payments made outside the United States by U.S. payers or…
    www.irs.gov