Taxes and TeamSnap: 1099 Forms

TeamSnap will issue 1099s for accounts that have collected gross payments exceeding $20,000 AND have more than 200 transactions. If both of those criteria are not met, a 1099 is not issued. 1099s are issued for accounts that meet the criteria regardless of whether they are non-profit tax-exempt or not, and are for payment amounts only, not including transaction fees paid. 

Attention: With the passing of the American Rescue Plan Act (ARPA) of 2021, the new threshold for a team or organization to receive a 1099 is any account that has collected a gross annual amount exceeding $5000. It is important to note there is no longer a transaction minimum. This new processing threshold from the ARPA plan will go into effect January 1, 2024 and be reflective on 1099’s issued in 2025 for the 2024 taxable year. For additional information regarding the threshold changes, please visit the IRS site here.