New 1099-K Forms may Lead to Enhanced IRS Collections

What do you need to know about Form 1099-K?

Form 1099-K is an information return that reports payment card and third party network transactions for the calendar year.  1099-K forms are giving IRS new collection leads.

A memo to IRS collection staff told them to use the data reported on the 1099-Ks to reopen cases that were shelved and put on hold because the taxpayer could not be located or the tax debt could not be collected.

Credit and debit card companies file 1099-Ks to report payments made to merchants. At a minimum, IRS agents can levy future payments until the tax debt is fully satisfied.

If you are in IRS collections we can help.

For help with IRS, tax audits, tax problems, back taxes, tax settlements, tax debt, Offer in Compromise, tax help, IRS debt, a tax lien, a state tax levy, an IRS levy, an IRS tax lien, contact us.  If you need IRS help and have unresolved cases with previous tax lawyers and tax attorneys, we can help find an optimal resolution for your indigenous needs.  Contact us at 201-947-8081 or 646-688-2807, or email us at

This entry was posted in IRS Collections and tagged , , , , , . Bookmark the permalink.

Comments are closed.