What is the 1099-K tax form?
Organizations that accept credit and debit cards when processing transactions will receive an IRS tax form 1099-K from their card processing company. The 1099-K will report the total dollar amount of transactions processed on your behalf by Blackbaud for the year.
Which customers will be receiving a 1099-K tax form from Blackbaud?
We issue 1099-K tax forms to all EINs that have any processing volume.
Why did we receive multiple 1099-K tax forms from Blackbaud?
An organization will receive one 1099K for each Blackbaud Merchant Services, Sphere Merchant Services and SmartTuition account they processed transactions through. Each form will include the total amount processed on the organization’s behalf for that account.
When will Blackbaud send out the 1099-K tax form?
The 1099-K form will be sent by January 31.
What information does Blackbaud need from customers to be able to send out the 1099-K tax form?
Blackbaud will use your organization’s EIN (Employer Identification Number) and the address provided when you signed your Blackbaud contract.
What action do I need to take upon receipt of the 1099-K form?
You will need to contact your financial/legal advisors to determine if any further actions are required.
Note: Blackbaud does not assist with reconciliation of the 1099-K form. Please discuss any questions you have about these forms with your accounting and legal departments.