GoDaddy Payments

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What is a 1099-K form?

The 1099-K form summarizes the payment card transactions for the prior year. Cash transactions are not included. Each year, GoDaddy provides a 1099-K form to GoDaddy Payments merchants that meet certain criteria.

Am I eligible for a 1099-K form?

If you received gross payments card transactions in 2024 that exceeded $5,000, you will get a 1099-K form from us. By default, you will get an electronic copy which you'll need to download from your GoDaddy Payments dashboard. You can also opt-in to receive a physical copy at the mail address entered in your GoDaddy Payments account. Here's how to get your 1099-K form if you're eligible.

Note: If you didn't meet the above requirement, a 1099-K form from GoDaddy isn’t required so you won't receive one.

Note that on November 21, 2023, the Internal Revenue Service (IRS) rolled back a new $600 qualification threshold for 1099-K reporting for the 2024 tax year, and the current qualification threshold is $5,000 instead. The threshold for 2025 will be $2,500.

How to prepare for tax season

To avoid a potential delay in receiving your 1099-K form, make sure your mailing address, email, first and last name, and company name are updated.

To review your current information, from your Dashboard, select Settings, then Payments (if prompted) and then Contact Info. You should review your:

  • First and last name: Ensure that the first and last name match the ones from your ID.
  • Email: Ensure that your email address is correct.
  • Mailing address: Under Company info, verify your mailing address.
  • Company name: Ensure that, under Legal Business Name, you're using the correct company name.
    • If your company is registered with the IRS (LLC, Sole Proprietorship, and so on), the name from this field must match the IRS registration.

Here's how to update your contact info if needed.

What is my Taxpayer Identification Number (TIN) and why is it important?

Your TIN can be either your Employer Identification Number (EIN) or your Social Security Number (SSN). Trusts, estates, partnerships, and similar entities must use EIN as their TIN.

Note: You can find your EIN on the notice issued by the IRS when you applied for EIN. Alternatively, if you previously filed a return for the business, your EIN would be displayed on that return.

As a payment processor, we have to file your TIN with the IRS, and therefore, you must have the correct TIN associated with your GoDaddy Payments account. The IRS cross-references that number with the information they have in their files or the files of the Social Security Administration (SSA). Find out more about how to fix incorrect name/TIN combinations.

If your TIN records don't match the records from the IRS, we will send you an email. You must follow the link from that email to complete the verification steps.

What if I didn't provide my EIN during onboarding?

  • If you didn't provide your EIN during onboarding, we will use your SSN to issue 1099-K form.
  • To report your EIN afterwards, you must contact our GoDaddy Guides and provide EIN + IRS Notice before Jan 2025.
  • If you request to add your EIN after Jan 2025, you may be charged a fee.
  • For other issues or further assistance regarding your TIN, please contact our GoDaddy Guides.

Why are the numbers in my 1099-K form different than the numbers in my GoDaddy Payments Dashboard and transactions report?

You may want to review your 1099-K form in comparison to the figures in your Dashboard or your transaction reports (learn how to run a transactions report, and what reports are available to you).

There are a couple of reasons you may see a different amount on the form than you see in your Dashboard/reports:

  • Payment method: The 1099-K form doesn’t include cash transactions - however, your Dashboard reflects cash transactions. If you’ve accepted cash payments, those will appear in your Dashboard reports but won’t be included in the total on the 1099-K form.
  • Time zone differences: The 1099-K form includes transactions made through December 31 (11:59 pm UTC). UTC (Coordinated Universal Time) may be different than the local time zone in your Dashboard. Transactions made after that time will roll over to the following year.
Note: This information isn't intended to establish a relationship or advise you on taxes. It's always a good idea to consult a tax professional to learn more.

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