Asteroom Guides to Tax Reporting – Asteroom

Asteroom partners with Stripe to file 1099 tax forms that summarize your earnings. We’ve put together some FAQs to help you learn more about 1099s, and how to use Stripe Express to review your tax information and download your tax forms.

If you have already created a Stripe Express account, you can log in to manage your tax information at connect.stripe.com/app/express.

If you earned $600 or more in 2023 on the Asteroom platform, you’ll receive a 1099-MISC or 1099-NEC form via our partner Stripe, and partnered accounting firm.

What are 1099s?

1099 forms are federal income tax information forms used to report earnings and proceeds other than wages, salaries and tips (which are reported on the federal W-2 form). The forms are filed with the US Internal Revenue Service (IRS) and, if required, state tax departments.

Will I receive a 1099 form?

If you earned less than 600 USD over the course of the year, you might not receive a 1099 form and one won’t be generated for you unless you meet a threshold in your state. If your state has a filing threshold lower than 600 USD, you might receive a 1099 form.

You can check your state’s requirements here:View 1099 state requirements.

When will I receive my 1099?

Your 1099 tax form will be e-delivery to you by January 31, 2023 (note: paper forms delivered by postal delivery might take up to 10 additional business days). Below is the timeline to get ready for tax season and have the forms e-delivery to you.

November 1st: Stripe will email you instructions on how to set up e-delivery. If you haven’t already, you’ll need to complete these steps to access your 1099 tax form electronically.
January 5th: Last day to enable Stripe outreach to the connected accounts to automatically collect paperless delivery consent and tax information.
January 18th: Last day that Stripe could send pre-filing outreach to your connected accounts
January 31:

Your 1099 tax form will be available to download through Stripe Express.
Your 1099 tax form will be mailed to you if you don’t receive an email from Stripe or don’t consent to e-delivery. Please allow up to 10 business days for postal delivery.
Asteroom will file your 1099 tax form with the IRS and relevant state tax authorities.

April 1: IRS deadline to file taxes. You’ll need your 1099 tax form to file your taxes.

In January, we strongly suggest that you ensure all of your tax filing details and delivery preferences are up to date in Stripe Express. Your name, address, and Taxpayer Identification Number (Social Security Number /Employer Identification Number) are of primary importance.

Why is Stripe requesting personal information like my Social Security Number?

Your Social Security Number is required to get your 1099 tax form properly filed with the IRS.

If you have earned enough to qualify for a 1099 tax form, the IRS requires your full details to be verified ahead of 1099 filing.

We understand you may have concerns about providing your full Social Security Number/Employer Identification Number when first claiming your account, given the sensitivity of this identifier. We take your privacy seriously and have enabled technical solutions to ensure that your personal information is secure.

How will I know when my 1099 tax form is available?

If you opted in to e-delivery, Stripe sends an email notification about the availability of your 1099 tax form to the email associated with your Stripe Express account.

How will I receive my 1099 tax form?

After you log in to your Stripe Express account, you will be able to consent to e-delivery of your 1099 tax forms. If you do not consent to e-delivery, you will not be able to view or download your 1099 tax forms in the Stripe Express Tax forms page. If you opted in to e-delivery, your 1099 tax form will be delivered electronically near the end of January.

If you would like to receive a paper copy of your 1099 form, please reach out to your platform for assistance.