It is a PP debit card. There is no 1099 issued. Stop with this nonsense. ![Roll Eyes ::)](https://forums.dansdeals.com/Smileys/default/rolleyes.gif)
Would you like to reconsider?
From the RedCard User Agreement:
"12. Your Liability...
...
b. Taxes.
As a result of new IRS rules, we may be required to report to the IRS and to you on Form 1099K the gross amount paid to you and received into your Account and, as applicable, Sub-Account(s). In order to carry out this required reporting, We will require your correct legal name and correct and valid Taxpayer Identification Number (usually your Social Security Number or Employer Identification Number) and, in some cases, a valid and complete Form W-9. Where you do not supply correct information, the IRS notifies us that it does match its records, or as otherwise required by Applicable Law, we will be required to back up withhold 28% of gross payments made to your Account. It is your responsibility to determine what, if any, taxes apply to the payments you make or receive and amounts you need to collect, report, or remit to the appropriate tax authority."
IRS 1099-K reporting requirments:
1099-K Reporting Requirements for Payment Settlement Entities
Beginning in January, 2012, payment settlement entities (PSEs) are required by the Housing Assistance Tax Act of 2008 to report on Form 1099-K the following transactions:
All payments made in settlement of payment card transactions (e.g., credit card);
Payments in settlement of third party network transactions IF:
-Gross payments to a participating payee exceed $20,000; AND
-There are more than 200 transactions with the participating payee.