Information Reporting for Payments Made in Settlement of Payment Card and Third-Party Network Transactions

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 1099-K Payment Card and Third Party Network Transactions	Form	Modified	Available
Final 1545-2205 Comment Matrix-CLEAN.docx	Supplementary Document	Uploaded 2026-04-23	Available
1545-2205 Supporting Statement 2026.docx	Supporting Statement A	Uploaded 2026-04-30	Available
PayPal-Stripe Comment on Draft Form 1099-K.pdf	Public Comments	Uploaded 2026-02-26	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
196146	Form 1099-K, Payment Card and Third Party Network Transactions	Form	Modified	Payment Card and Third Party Network Transactions
196146	Form 1099-K, Payment Card and Third Party Network Transactions	Instruction	Modified

ICR Details

OMB Control No: 1545-2205	ICR Reference No: 202601-1545-004
Status: Received in OIRA	Previous ICR Reference No: 202301-1545-003
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Information Reporting for Payments Made in Settlement of Payment Card and Third-Party Network Transactions
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 04/30/2026

table that charts list comparision

	Requested	Previously Approved
Expiration Date	36 Months From Approved	05/31/2026
Responses	13,340,100	10,400,000
Time Burden (Hours)	6,403,248	4,992,000
Cost Burden (Dollars)	0	0

---

Abstract: This information collection covers final regulations implementing mendments to the Income Tax Regulations (26 CFR part 1) relating to information reporting under sections 6041, 6041A, 6050W, and 6051 of the Internal Revenue Code (Code). The form reflects payments made in settlement of merchant card and third-party network transactions for purchases of goods and/or services made with merchant cards and through third-party networks.

---

Authorizing Statute(s): US Code: 26 USC 6050W Name of Law: Returns relating to payments made in settlement of payment card and third party network transactions
  

Citations for New Statutory Requirements: PL: Pub.L. 119 - 21 224 Name of Law: One Big Beautiful Bill Act

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	91 FR 1602	01/14/2026
30-day Notice:	Federal Register Citation:	Citation Date:
	91 FR 22917	04/28/2026
Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 1

table that charts list of burden

IC Title	Form No.	Form Name
Form 1099-K, Payment Card and Third Party Network Transactions	1099-K	Payment Card and Third Party Network Transactions

---

ICR Summary of Burden

table that charts list of burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	13,340,100	10,400,000	2,940,100	0	0	0
Annual Time Burden (Hours)	6,403,248	4,992,000	1,411,248	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: To comply with provisions of Public Law 119-21 (One Big Beautiful Bill Act), two lines were added to Form 1099-K to include cash tips and the Treasury tipped occupation code. This change is anticipated to increase the estimated annual number of responses by 3,694,100 and will increase the total burden by 1,773,168 hours, due to the new statute.

---

Annual Cost to Federal Government: $60,213

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

---

Common Form ICR:  No

---

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 04/30/2026

---