I received this message from Paypal on February 16th, but have still not been able to get an updated 1099-K despite having emailed
<removed>. In fact, when I emailed the response I received was, "We were unable to locate your account with an existing 1099-K correction request pending at this time." Any advice on how to get an updated 1099-K?
Here's the text of the message
Recently, Internal Revenue Service (IRS) 2020 Form 1099-K was made available to you. PayPal, as a third-party settlement organization, is required to issue you tax form 1099-K if your account activity meets Federal and certain State transaction thresholds to comply with IRS tax reporting requirements.
We would like to inform you that PayPal issued you a Tax form 1099-K for the funds received in your PayPal account. Because a form 1099-MISC is being issued through Udemy, we are taking the necessary steps to correct the 1099-K issued by PayPal. We expect this correction to be completed over the next few days. The corrected form will be made available to you in your PayPal account and you may want to hold off on filing your income tax return until this is issued.
If the correction of your PayPal Form 1099-K causes your payment transactions to be below the tax reporting threshold, then we will issue you a corrected 2020 Form 1099-K showing no ($0) reportable transactions.
By completing this correction, we are ensuring that non-reportable payments on your 2020 IRS Form 1099-K from your PayPal account, are not reported to the IRS and certain state tax authorities, where applicable.
If you have questions regarding this correction, please contact us to speak with a PayPal representative. You may also send an email to <removed>.
Thank you for your continued business.
PayPal Team
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