As a general rule, any income you receive you are required to report to the IRS on your income tax return. AspireIQ is not able to provide specific tax advice to creators for legal reasons. If you have any questions regarding your taxes, you should discuss them with your tax attorney or accountant.
Will I receive a 1099 form from AspireIQ for my taxes?
No, AspireIQ does not send any 1099s to creators because we are a platform that connects brands and creators and we do not pay creators directly. Per banking regulations, PayPal, our third party payment processor, will send 1099 forms to creators (if applicable).
How do I get a 1099 form from PayPal?
A 1099-K form is only issued from PayPal if you exceed both of the following thresholds in a calendar year:
- $20,000 in gross payment volume from sales of goods or services in a single calendar year, AND
- 200 payments for goods or services in the same year (except Vermont and Massachusetts, where the threshold is lower, irrespective of the number of transactions)
If eligible, you can access your 1099-K from your PayPal account by January 31st annually. Only those customers that meet the 1099-K eligibility requirements will see the 1099-K available for download in their account.
If you have any additional questions about this, don’t hesitate to reach out to our Creator Support team at [email protected]