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Yes, an S-Corporation can receive a Form 1099-K from PayPal or any other third-party settlement organization (TPSO) if it meets certain criteria. Starting from 2023, TPSOs are required to issue a 1099-K to any payee that receives over $600 in a calendar year, regardless of the number of transactions. This is a significant change from the previous threshold of $20,000 and 200 transactions. So, if your S-Corp receives more than $600 from PayPal in a year, you can expect to receive a 1099-K.
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