TAX FAQ

Commonly Asked Questions about RoverPass and Tax Season

1. Does RoverPass remit taxes on my behalf?

RoverPass does not remit taxes on behalf of any park.  There is a tax setting within the RoverPass Owner Portal that your Onboarding Specialist can help you to set.  You have access to change it at any time.  If a tax percentage is set, it will be charged to the consumer and it will be paid out to you via Direct Deposit.  It will be up to you to pay that money to the government.

 

2.  How do I know how much I have collected in taxes?

Visit the "Reports" section of the Owner Portal.  Tax per payment can be found in the:

  • All Transactions Report
  • Payouts Report
  • Direct Deposit Report
  • Reservations Financials Report


3. What is a 1099-K Form?

Form 1099-K, Payment Card and Third-Party Network Transactions is an IRS form used to report credit/debit card transactions and third party network payments.

Organizations such as RoverPass, Poshmark, airbnb, VRBO, and many others that facilitate these payments, are required by law to file them with the IRS and send copies to the payment recipient.

 

4. What transactions are included in my 1099-K?
All payouts that were processed through your Stripe Account will be included in your 1099-K.  Essentially, this includes all credit/debit card transactions less the platform and processing fees that are deducted before a payout is made to you.  Refunds are not subtracted from the sum as they were paid out to you at one point.  The form does not include transactions that you marked as paid by Cash/Check as those funds were not processed through Stripe.  You will be responsible for reporting Cash/Check transactions.  

If you have any questions, please contact a Tax Specialist.

 

5.  Why did I receive a 1099 this year when I did not last year?

Starting in the 2022 tax year, the IRS is requiring reporting of all payments for goods and services sold with a value of $600 or more.  Everyone who meets this threshold will receive a Form 1099-K. Prior to 2022, the threshold for a 1099-K was much higher.  Only accounts that processed $20,000 and 200 transactions met the requirement to have a 1099-K filed.  As the threshold has been lowered significantly to $600 in one calendar year, many more accounts will be receiving 1099-Ks.

 

6. What happens when I confirm my tax information?
Confirming your tax information ensures that we have everything needed to issue your tax forms. 

**PLEASE ensure that your SSN/EIN and legal entity/business name are filled out exactly as they show on your SS-4.**

If your information does not match exactly (down to the punctuation in your business name), the form will kick back and a correction will be needed before it can process.

Example:

If your SS-4 form shows:

  • Legal Entity Name: ABC Family Businesses LLC DBA Frank's RV Park
    EIN: 12-3456789

Then your W9 and Stripe Account need to show:

  • Legal Entity Name: ABC Family Businesses LLC DBA Frank's RV Park
    EIN: 12-3456789

The form will be kicked back and unable to process without correction if a mismatch occurs.  Examples below are NOT accepted:

  • Legal Entity Name: Frank's RV Park
    EIN: 12-3456789
  • Legal Entity Name: ABC Family Businesses LLC DBA Franks RV Park
    EIN: 12-3456789
  • Legal Entity Name: ABC Family Businesses LLC
    EIN: 12-3456789
  • Legal Entity Name: ABC Family Businesses LLC DBA Frank's RV Park
    EIN: 123-45678
  • If you are a Sole Proprietorship, we need your information.  We cannot submit the name of the business for a Sole Proprietorship

If you are paid out at least $600 from RoverPass during the calendar year, we’ll issue you a Form 1099-K at the beginning of the 2023 tax season and send a copy to the IRS. If you don’t end up earning at least $600 from RoverPass, you will not receive a 1099-K, but you can download your financial information from reports in your Owner Portal to assist you with reporting obligations.

If you have any questions, please contact a Tax Specialist.

 

7. When do I have to do this?
You’ll need to report your earnings for 2022 during the 2023 tax season. To issue your Form 1099-K in time, we need your tax info confirmed no later than December 31st, 2022.  However, we recommend confirming your information as soon as possible to avoid payout delays.

 

8. What if I choose not to confirm my information?
Payouts for your account may be placed on hold until the information is received. If you do not submit your information by the deadline, we will still send you and the government a Form 1099-K leaving the Tax ID field blank.

 

**Please note that this information is not intended to be taken as tax advice.  Please reach out to a Tax Specialist to assist you at tax time.**