1099k

[saltsportsman]

Just got this email at almost 10pm April 15th

Our team has identified a reporting issue that resulted in an incorrect value on your 2024 1099-K form. The amount in box 1a (gross payment amount) was overstated by USD $$$$$ This issue is now resolved and your 1099-K form has been updated.

Why would you send this on tax day this late when taxes have been filed long ago?

[Carlos-Sz]

Hello @saltsportsman 

The thing is, Shopify (and any platform issuing 1099‑Ks) is legally required to correct the form as soon as they discover an error, even if it’s after the IRS deadline. They probably only caught the discrepancy recently and had to push the update right away.

Unfortunately, tax deadlines don’t pause for late corrections. You’ll want to download the updated 1099‑K from your Shopify dashboard and check in with your accountant to see if you need to file an amended return. If you have any questions about why the number changed or need more detail, it’s worth opening a support ticket with Shopify so they can explain exactly what happened.

[Carlos-Sz]

Hello @saltsportsman,

The thing is, Shopify (and any platform issuing 1099‑Ks) is legally required to correct the form as soon as they discover an error, even if it’s after the IRS deadline. They probably only caught the discrepancy recently and had to push the update right away.

Unfortunately, tax deadlines don’t pause for late corrections. You’ll want to download the updated 1099‑K from your Shopify dashboard and check in with your accountant to see if you need to file an amended return.

If you have any questions about why the number changed or need more detail, it’s worth opening a support ticket with Shopify so they can explain exactly what happened.

[Trenzalore]

I received the same thing-my taxes were done, but I didn't actually file them until today. So even 6-12 hours of heads up and I could have adjusted it. This timing is ridiculous, the only way to correct it now is to wait for the IRS to process everything, and then file an amended return, or eat the amount I overpaid, which is probably around $800+. 

Thanks Shopify. 😞

[GameBall]

Same. This is ridiculous. They are late every year and now I have to pay to have these redone. Shopify should reimburse us for this mistake. 

[mjk301]

This is pathetic. Sending an amended 1099-K on freaking tax day. I received this notification literally hours after filing my returns. This is so unprofessional. I want to spend time growing my business not bogged down in taxes for weeks every year. We already spand hours and hours getting the retunrs ready and filed. You need to compensate us for this mess for the additional expense of recalculating and prepareing amended returns and lost time. You are supposed to be a premier platform - not amateur hour.