You can read about 1099-K reporting requirements and the need for your social security number directly from Amazon Payments here:

https://payments.amazon.com/sdui/sdu...al-Regulations

There is a list of FAQs that should answer most of your questions.

Here is the first portion of the link:

"IRS Reporting Regulations on Third-Party Payment Transactions

Beginning with the 2011 tax year, new Internal Revenue Service (IRS) regulations require that U.S. third-party settlement organizations and payment processors, including Amazon Payments, file Form 1099-K to report unadjusted annual gross sales or payment volume information for customers that meet both of the following thresholds in a calendar year:

More than $20,000 in gross payment volume, and
More than 200 transactions.

IMPORTANT NOTE: Even if your account does not meet the above criteria, Amazon Payments still requires you to provide tax identification information to Amazon Payments."

Regarding your TIN/social security number. IMO, if you don't have a TIN/SSN on file with AP, it appears they would have to withhold 28% (backup withholding) from your transactions. You don't want that and neither does AP. The easiest thing for them to do is to deny payments for anyone unwilling to furnish a TIN/SSN.

If I read AP site correcly, no one will get the 1099-K form -- unless folks have reieved $20,000+ AND more than 200 transactions.

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Will you file Form 1099-K for my account if I only exceed one of the two thresholds?

No. Unless you exceed both thresholds ($20,000 in gross payment volume and 200 transactions) we will not file Form 1099-K for you.

The 200 transactions with $20k received is when they have to issue a 1099. They could choose to give you a 1099 for less if they wanted to.

They could also choose to come to your house and paint your toenails blue. But not likely. But Amazon clearly states that will not send you a 1099 unless the threshholds are met: "Unless you exceed both thresholds ($20,000 in gross payment volume and 200 transactions) we will not file Form 1099-K for you."(emphasis supplied)

Why suggest that Amazon will act contrary to this explicit statement?

Just to confirm, we can use amazon payments to meet some credit card spending requirements, right?

As long as we don't exceed the 20 transaction/$20K limit, we should be fine in terms of not having to declare anything like that to IRS?

Thanks

It is actually 200 transactions AND $20K. Based on the 200 transactions, almost everyone should be fine.

Amazon payment for Canadians
 

Just got my new Amex cc and need to fulfill the required spend in order to receive the bonus points, someone has mentioned we can use Amazon payment to send fund to family or friends. Can this work for Canadians? Would I get hit with the exchange rate from US to Canadian currency when cash it?

I don't see the option on Canadian Amazon website

Thanks

what does this translate to?
 

tried to send using 'an account' and got this:

Important Message:

This transaction has been denied. Please contact customer service for more information.

*********************

no chance in hell im going to call them. Anyone else getting this?

No, not getting this (as of a week ago).

Why not see if this is 'account level' or your CC ? Try a different card (preferably one that you have used before and know should work), and/or a smaller amount as a test?

sir...what do u mean "as of a week ago"?.....were u getting that before?
I used a CC that worked fine in another acct.....but i try a smaller amt.

Just made a $400+ payment and it went through fine.

Have you provided them your social yet?
I've been able to maintain business as usual without doing so, but I am willing to if push came to shove.

Have you provided them your social yet?
I've been able to maintain business as usual without doing so, but I am willing to if push came to shove.

On a similar note, Ameriprise sent out new T & Cs saying they would consider person to person payments as cash advances. This they said was in response to current relevent changes in the cc industry.

I have indeed provided them my SSN.

Likewise, I just received notice from Barclays concerning my USAirways Mastercard that effective immediately the term "Cash Equivalent" (and thus considered a cash advance) includes "person to person money transfers (including but not limited to transfers facilitated over the internet)".