Dwolla is the Tippy partner that facilitates the daily ACH transfers to personal bank accounts. While Tippy is not required to submit this form, our transfer partner Dwolla is required to report transactions received by users in its network to the IRS in a 1099 -K form if any single user receives more than $5,000 in payments in the 2024 tax year. Dwolla will prompt users to provide their Social Security number in order to complete this process.

We hope this information is helpful and as always if you have specific questions about how to handle your taxes we recommend consulting your tax professional for the best advice.

If you have any questions regarding the W9 or 1099-K forms, please don’t hesitate to contact Dwolla Support directly at [email protected]. They’re happy to assist you with any inquiries or concerns.