Why does Apartments.com require updated taxable entity information when I already file my taxes?

Apartments.com is a third-party settlement organization, which means we facilitate payments between renters and landlords/property managers. As tax regulations can change, we continuously choose to remain compliant and issue payment recipients a Form 1099-K when the criteria for doing so is met.

Why does Apartments.com need my taxable entity details now? This information was not needed from me in previous years

In 2021, the American Rescue Plan Act lowered the threshold for receiving a 1099-K starting in 2022.

2021 2022
200 transactions and ≥$20,000

As a single rent payment for most renters exceeds $600, we have contacted payment recipients multiple times in 2021 asking them to prepare their accounts, so we may continue facilitating their payments starting 2022. You may not have received this request from Apartments.com before as the threshold in previous years was much higher.
≥$600

Additional information about 1099-K forms

You can find more details about 1099-K on the IRS website:

https://www.irs.gov/businesses/understanding-your-form-1099-k

Did this answer your question? Thanks for the feedback There was a problem submitting your feedback. Please try again later.