Tax Year 2023
Frequently Asked Questions
What are 1099s?
1099 forms are federal income tax information forms used to report earnings and proceeds other than wages, salaries, and tips (which are reported on the federal W-2 form). The forms are filed with the US Internal Revenue Service (IRS) and, if required, state tax departments.What is Stripe Express?
Stripe Express is a new way to engage with Cottage and Stripe. Stripe Express allows you to track your earnings, manage tax forms, update your business/personal information, and get direct support from Stripe from a web-based portal and app.How do I download the app?
If you'd like to download the Stripe Express app, you can do so here from:
- iOS: https://apps.apple.com/us/app/stripe-express/id1560214813
- Android: Not available
Do I have to download an app?
You don't need to download an app. You can use either the web-based portal or the Stripe Express app to access your account and tax information.Which email address does Stripe use to send Stripe Express invitations?
Stripe uses the email information associated with your Cottage account to send you an invitation to sign up for Stripe Express. If you haven't received that email, contact Stripe Support.Why haven't I received a Stripe Express invitation?
Check your spam or junk mail folder in case your invitation landed there.
You might not receive an invitation if Cottage doesn't have your most current email address on file. You need to either update the email address on your account or check your other email addresses for an invitation.
You may not have received an invitation for other reasons, such as:
- You earned less than the threshold for your form type.
- Your email address on file is incorrect, missing, or unable to receive email.
- Your specific account is unsupported on Stripe Express (in uncommon situations where multiple users are sharing the same account, or the same email address is being used on more than 20 accounts)
Will I receive a 1099 form?
If you earned less than $600 over the course of the year, you might not receive a 1099 form and one won't be generated for you unless you meet a threshold in your state. If your state has a filing threshold lower than $600, you might receive a 1099 form.
You can check your state's requirements here: View 1099 state requirements.
When will I receive my 1099?
Your 1099 tax form will be sent to you by January 31st, 2024 (note: paper forms delivered by postal delivery might take up to 10 additional business days).
- Starting November 1st, 2023: Stripe will email you instructions on how to set up e-delivery and create a Stripe Express account. If you haven't already, you'll need to complete these steps to access your 1099 tax form electronically.
- By January 31st, 2024:
- Your 1099 tax form will be available to download through Stripe Express.
- Your 1099 tax form will be mailed to you if you don't receive an email from Stripe or don't consent to e-delivery. Please allow up to 10 business days for postal delivery.
- Cottage will file your 1099 tax form with the IRS and relevant state tax authorities.
- April 15, 2024: IRS deadline to file taxes. You'll need your 1099 tax form to file your taxes.
In January, we strongly suggest that you make sure all of your tax filing details and delivery preferences are up to date in Stripe Express. Your name, address, and Taxpayer Identification Number (Social Security Number /Employer Identification Number) are of primary importance.
Why is Stripe requesting personal information like my Social Security Number?
Your Social Security Number is required to get your 1099 tax form properly filed with the IRS.
If you have earned enough to qualify for a 1099 tax form, the IRS requires your full details to be verified ahead of 1099 filing.
We understand you might have concerns about providing your full Social Security Number/Employer Identification Number when first claiming your account, given the sensitivity of this identifier. We take your privacy seriously and have enabled technical solutions to make sure that your personal information is secure.
How will I know when my 1099 tax form is available?
If you opted in to e-delivery, Stripe sends an email notification about the availability of your 1099 tax form to the email associated with your Stripe Express account.How will I receive my 1099 tax form?
After you log in to your Stripe Express account, you will be able to consent to e-delivery of your 1099 tax forms. If you do not consent to e-delivery, you will not be able to view or download your 1099 tax forms in the Stripe Express Tax forms page. If you opted in to e-delivery, your 1099 tax form will be delivered electronically near the end of January.
If you would like to receive a paper copy of your 1099 form, please reach out to Cottage Support for assistance.
My information has changed since I signed up for Cottage. How can I edit information?
Update your account information in the Account tab:
- Under Stripe Express Account, you can update the email address and phone number used to log in to Stripe Express. Please note that only one contact method can be updated at a time.
- Under Language preference, you can choose your preferred language for Stripe Express.
- Under Payout and Professional Details, you can update personal and legal entity information and view your bank account or debit card information for payouts. To update your payout details, please reach out to Cottage Support.
Why can I see my earnings from other platforms?
One of the features of Stripe Express is a seamless view of all of your earnings across different platforms. You can see your earnings from other platforms that also use Stripe Express for tax purposes in one place.If the information on my 1099 tax form is incorrect, who do I ask for updates - Stripe or Cottage?
If you need to correct the information on your tax form after it's been delivered, you can reach out to Cottage Support.
We understand the numbers on your form might be a bit confusing. Those numbers might represent your net take home pay, include Stripe fees, or represent total gross volume.
If the numbers seem higher than expected, see “Total Gross Volume” on 1099-K Form to learn more about gross reporting.
If you'd like to learn more about the particular 1099 form you were issued, please check here: https://stripe.com/docs/connect/tax-reporting
Edge cases for 1099 tax reporting
The new Stripe Express Dashboard doesn't support certain types of accounts, as follows:
- Multi-user and multi-currency express accounts: Express accounts that have multiple users or multiple currencies associated with them can't view the new Express Dashboard and hence do not receive electronic delivery of forms
- Five or more connected accounts sharing the same email: When five or more connected accounts for the same platform have the same email, they don't receive an email from Stripe because of a potentially poor user experience
- Rejected and deleted accounts: Accounts that you've rejected or deleted no longer have a Stripe relationship and are ineligible to login to Stripe Express
- Standalone and Split forms: If a form has been split or is a standalone form (that is, not tied to the active user of a connected account), it's not eligible for electronic delivery.
