Jane's Guide Here's all the help you need to use Jane.

U.S. 1099 tax forms

  1. Billing
  2. U.S. 1099 tax forms

    3. 8 min read
    Balance Plan Practice Plan Thrive Plan

It’s everybody’s favorite season - tax season! Bookkeepers, accountants, and anyone else who enjoys long documents and a lot of numbers, this one’s for you. 😏

This guide is specific to U.S. based Jane clinics and practitioners using Jane Payments.

Feel free to jump to each question by clicking through the links below:

 

What’s a 1099-K form?

It’s an information return that’s given to the IRS and all qualifying Jane Payments accounts. It summarizes your credit card processing through Jane Payments for the previous year.

Who is Stripe, and why did I receive an email from them about my 1099-K form?

Jane partners with Stripe to take payments, as well as file 1099-K tax forms that report your credit card processing. For tax purposes, they will generally send emails from [email protected].

  • In November 2024, you may receive an email asking you to confirm your tax information.
  • In mid January 2025, Stripe will notify you when your 1099-K tax form is available.

Do I qualify for a 1099-K?

For our US clinics or practitioners, you’ll be issued a 1099-K form from Jane Payments if you have processed $5000 in payments for the year 2024.

How do I get my 1099-K form?

Starting in mid-January 2024, you’ll be able to get your 2024 1099-K form by heading to your Settings > Jane Payments area, hit the Pencil icon, followed by clicking on the Go To Stripe button. From here, you’ll see a Tax Forms heading.

How are these numbers calculated?

The numbers listed on your 1099-K form are your total processing amounts before any credit card processing fees are deducted. Similarly, refunds are not taken into consideration. If your treatment price is $100, you’d see $100 reflected in the totals on your 1099-K, even though a slightly lower amount would have been deposited in your bank account.

The numbers on your 1099-K form also reflect when those funds were paid to you, which may not be the same month they were processed. As an example, a $100 payment processed on Tuesday, October 31 would be paid to you in two business days, which would be Thursday, November 2. You’d see this $100 reflected in your November 1099-K totals, even though you processed the payment in October.

Why doesn’t my 1099-K form match with my Jane Payments Transaction Report?

Since your 1099-K reflects when funds were paid to you, you’ll need to adjust the date range in the Jane Payment Transaction Report accordingly. Be sure to include payments processed in the previous year but deposited in the following year, while setting the end date to cover only the payments received during the calendar year shown on your 1099-K (e.g., December 28, 2023, to December 28, 2024).

After adjusting the date range to include only charges processed during the year of your 1099-K, you’ll then need to add any refunds that were processed to the Gross Total at the bottom of the Jane Payment Transaction Report.

Why doesn’t my 1099-K form match with my Jane Payments Monthly Processing Report?

Jane Payments Monthly Processing Report:

This report includes purchases but does not include refunds. Additionally, it reflects when payments were processed in Jane, rather than when the funds were actually deposited into your account.

1099-K Form:

The 1099-K form, on the other hand, only includes purchases and does not account for refunds. As a result, the reported amount may be higher, and the number of transactions may be lower compared to the Jane Payments Monthly Processing Report. This form reflects when funds were paid to you, which may not align with the month they were originally processed.

My business information is incorrect on my 1099-K form.

You’ll be able to update your business information from the Settings > Jane Payments area of your Jane account, followed by clicking on the Pencil icon and then Go To Stripe. Once you’re there, you can click the person symbol on the top right, and update your details from there. Once complete, reach out to our Support Team for an updated 1099-K.

What do I do with a 1099-K form?

We’re required to file a 1099-K form with the IRS for all qualifying Jane Payments accounts. That being said, we make software to help you run your clinic, and we’re not tax experts. You should seek the advice of a tax professional for any questions specific to your business and how to file taxes since we’re not able to offer tax advice.

I use a different payment processor. Can I still get a 1099-K form?

If you’re using our former Square Terminal integration and qualify for a 1099-K form, you’ll find this form in your Square Dashboard.

If you’re using our Payfirma integration, please contact Payfirma at [email protected] for more information.

I don’t qualify for a 1099-K, however, I still need to report on my credit card processing.

In this case, you’ll want to pull the Jane Payments Monthly Processing Report. You can find this by heading to the Billing tab in your Jane account, followed by the Jane Payments Monthly Processing Report in the menu on the left-hand side of the page.
Subscribe to our monthly newsletter.