NOTE: The reporting thresholds for 2025 have changed. The new federal thresholds are at least $20,000 in volume AND at least 200 transactions. Many companies that exceed the volume requirements did not process 200 separate payments in 2025.
If you processed credit card payments through Check Cherry Payments, and met the threshold for reporting to the IRS, you can have your 1099 electronically delivered starting in 2025. To enable electronic delivery of your 1099, just follow these quick steps:
Go to Manage --> Payment Settings
Click Edit in the Paperless Consent box
Click the Yes, I Consent button (You can revoke consent at any time)
What is the reporting threshold for tax year 2025?
The laws are always changing around taxes, so be sure to check with your accountant or bookkeeper, but here are a couple of resources that you may find helpful as well:
Do I still need to report my income and pay taxes if I don't receive a 1099-K?
Yes! You are legally responsible for reporting all income, regardless of the source. A 1099-K only lists the payment received from a specific payment processor, but the IRS expects you to report all income including that received via cash, check, Venmo, PayPal, Zelle, and other platforms.
You can run your numbers by going to Sales -> Reporting and choosing either the "Profit & Loss" or the "Payment History" report. Just make sure to set the payment date range to the correct range.
Check Cherry did a video about taxes in 2025. You can check it out here: