If you process more than 200 transactions and more than $20K in a given year, you will receive a 1099-K from Withfriends for the year.
Please note that this tax form reports the "Total Gross Volume". (This is often a point of confusion.)
We're required to report the gross payments which includes how much was sent to a payee before any processing or platform fees, and more.
In specific, the "Total Gross Volume" includes:
Stripe processing and conversion fees
Shipping fees
Taxes
Refunded charges
All adjustments
These additional fees, refunds, and adjustments are not deducted from charges when calculating your gross volume and reporting to the IRS.