What is the 1099-K reporting threshold and does it apply to my foreign-owned LLC?
I keep seeing conflicting information about the 1099-K threshold. Is it $600? $5,000? $20,000? It seems like it changes every year. My foreign-owned LLC receives payments through Stripe and PayPal for an online store.
Also, I submitted a W-8BEN-E to both Stripe and PayPal. Does that mean I won't get a 1099-K? Or do I get one regardless because the LLC is a U.S. entity?
I want to understand what the IRS actually knows about my income so I can make sure my filing matches.
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