Yes, there is a de minimis exception for reporting payments to participating payees of third party network transactions on Forms 1099-K for a third party settlement organization. According to Subsection 6050W(e) of the Internal Revenue Code, a third party settlement organization is not required to report any information under subsection (a) with respect to third party network transactions of any participating payee if the amount which would otherwise be reported under subsection (a)(2) with respect to such transactions does not exceed $600.
Sources:
§ 6050W. Returns relating to payments made in settlement of payment card and third party network transactions
Notice 2021-51
N(39)000-4
CC-2021-001
CC-2009-027
CC-2002-021
CC-2003-030
