Payee statements are documents that entities required to file information returns, such as Form 1099-K, must furnish to the payee (taxpayer) with the same information reported to the IRS. These statements can be provided in paper format (i.e., Copy B of Form 1099-K) or electronically with the consent of the payee, in accordance with Treasury Regulation 1.6050W-2. The statements must be furnished to the payee by January 31 of the year following the transactions.
Sources:
Publication 1179 (10/2023)
§ 6041. Information at source
FS-2024-3
FS-2023-6
§ 301.6722-1. Failure to furnish correct payee statements.
§ 1.6049-6. Statements to recipients of interest payments and holders of obligations for attributed original issue discount.
