YapStone FAQs

Yapstone specializes in payment technologies for platforms and marketplaces. We proudly power payments for some of the worlds largest marketplaces and process over $20 billion dollars a year in frictionless transactions through our partnerships.

Yapstone delivers payment solutions for vacation rental managers, owners and their guests, including a comprehensive, yet easy-to-use electronic payment platform that directly integrates with many of the leading vacation rental software. Our platform offers flat-rate pricing to give you transparency into your growing vacation rental business and delivers simple monthly statements for easy reconciliation.

We have over 17 years of deep industry-specific payment processing expertise and a leadership team with sophisticated payments experience that helps deliver our services to more than 400,000 vacation rental properties across the world.

If you require support or assistance or if you wish to provide feedback on our products, please visit one of the specifically designed help centers below or contact us directly:

US Based businesses

VacationRentPayment Help Center

Contact VacationRentPayment

For HomeAway/VRBO customers, visit the HomeAway Payments powered by Yapstone Help Center

Contact HomeAway Payments

International Based business

HolidayRentPayment Help Center

Contact HolidayRentPayment

For HomeAway/VRBO international customers, visit the HomeAway Payments powered by Yapstone International Help Center

Contact HomeAway Payments Europe

Gross amount is defined as the total dollar amount of aggregated transactions in which a payment card is accepted as payment for each merchant without regard to any adjustments for credits, cash equivalents, discount amounts, fees, refunded amounts, or any other amounts. In other words, the gross amount contains all amounts YapStone processed for you and does not exclude any refunds, fees, or other adjustments.

All money transmitter licenses granted to Yapstone are available here.

The 1099-K reports gross amounts. The amount does not include any refunds, fees, or other adjustments. The Gross amount figures are counted at the date of sale/booking, not at the date of deposit.

If you are interested in hearing more about our products and features, please complete the contact form below, and a Sales associate will contact you shortly.

Click here.

We use DocuSign to help you securely sign and submit certain types of requests. If we've provided you with a link for a DocuSign form, the below steps will help you fill it in.

Click the link provided to begin the secure DocuSign digital signing process.

Fill in your first and last name and your e-mail address. Make sure this matches the name and email address listed on your Yapstone account.

Click the "Begin Signing" button.

Check your e-mail for a message from DocuSign.

Note:This message may not reflect in your inbox until 2-3 minutes after you the request is sent. If you do not see the e-mail, please check your spam or junk mail folder.

Click "Review Document" and select the check box to authorize consent to sign the form electronically.

Fill out the form with the information requested.

Attach any required supporting documentation outlined on the form.

Click the "Sign" icon line to verify your name. Then click "Adopt and Sign".

Note: The request must be signed by the Yapstone account owner or point of contact for business accounts.

Direct Debit Mandates must also be signed by the bank account holder.

Review the information provided on the form and click "Submit" in the bottom right hand corner to complete the document.

You will receive a Completed notification from DocuSign.

This means we have received your completed form, and will contact you once we have processed the information you have provided.

It also contains a link for you to access the completed form, in case you want to refer to it in the future.

PCI DSS stands for Payment Card Industry Data Security Standard (PCI DSS) and is the global standard for all entities that store, process and transmit cardholder data. Cardholder data security is one of the most significant issues facing the payment card industry, and PCI DSS is intended to optimize the security of credit, debit and cash card transactions and protect cardholders against misuse of their personal information.

Yapstone is PCI DSS compliant, and we actively evaluate our security management, policies, procedures, network architecture, software design and critical protective measures to ensure we safeguard sensitive data.

All privacy policies are displayed in our Legal Center, available by clicking .

If you have any questions, concerns, or complaints regarding Yapstones collection, storage, use, or transfer of your Personal Information or compliance with the Privacy Shield, Privacy Statement or any Privacy Notice, please contact the Yapstone Privacy Officer at [email protected]. The Yapstone Privacy Officer will endeavor to investigate and attempt to resolve any complaints within 45 business days.

Sections in this Article

Overview

Issuing 1099-K forms to our Merchants

W9 Form Required by YapStone

What is a Federal TIN or Tax Identification Number?

Information Provided on a 1099-K form

FAQs

Note: YapStone, Inc. and its affiliates do not provide tax, legal, or accounting advice. This article has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.For more help regarding your taxes, please consult your tax advisor. For more information regarding 1099-Ks and income taxes please visit www.IRS.gov.

Overview

The Housing and Economic Recovery Act of 2008 created a requirement for banks and other payment settlement entities (PSE) to report payment card and third-party network transactions for their merchants to the Internal Revenue Service (IRS). As part of the PSEs reporting obligation, the PSE must collect and verify their merchants tax filing information, including legal name, address, and tax identification number (TIN). The PSE is also obligated to back-up withhold (currently 24%) from their merchants processing volume, unless their merchant certifies that the merchant is not subject to back-up withholding.

In order to comply with IRS requirements, a PSE, such as YapStone, Inc. (YapStone) is required to collect a valid W-9 from its merchant. The W-9 contains the merchants legal name, address, TIN, and a certification that the merchant is not subject to back-up withholding.

With the information collected on the W-9, YapStone is able to issue a 1099-K to its merchant. As required by the IRS, an information copy of the 1099-K details is sent to the IRS.

If a merchant fails to provide its correct TIN or legal name or there is a discrepancy between the information the merchant provided to YapStone and the IRSs records, the IRS may require YapStone to begin backup withholding of the merchant's future settlements amounts.

For more information, you may visit the IRS website at www.IRS.gov or readthe 1099-K instructions here: https://www.irs.gov/pub/irs-pdf/i1099k.pdf.

Issuing 1099-K forms to our Merchants

YapStone will issue its eligible merchants (you) a 1099-K every year for the previous calendar year. The 1099-K will report your gross payment volume. In order to be eligible to receive a 1099-K from YapStone, you must meet one or more of the following:

You or your business processed more than $20,000 AND 200 transactions in gross payments

You or your business (including properties) are in Massachusetts and processed more than $600 in gross payments

You or your business (including properties) are in Vermont and processed more than $600 in gross payments

W9 Form Required by YapStone

YapStone requires its merchants to submit a valid W-9 form (Request for Taxpayer Identification Number and Certification) in order to collect the merchants legal name, address, TIN and certification that the merchant is not subject to backup withholding. If YapStone does not have a valid W-9 form we will use the information you provided at the time of your application.

What is a Federal TIN or Tax Identification Number?

A Federal TIN or Tax Identification Number is an identification number used by the IRS in its administration of tax laws. If you are a sole proprietor, generally, your TIN is your Social Security Number (SSN). For other business types, your TIN is yourEmployer Identification Number (EIN). It is critical that the TIN YapStone has on record matches what is on file with the IRS. If YapStone is unable to validate the TIN you supply against IRS records, you may be subject to a 24% withholding on your gross payments received until YapStone receives a TIN from you that can be validated against the IRSs database.

Information Provided on a 1099-K form

Form 1099-K (Payment Card and Third-Party Network Transactions) is an IRS information return used to report certain payment transactions to improve voluntary tax compliance. Generally, the 1099-K includes the gross amount of all reportable payment transactions. A reportable payment transaction is defined as a payment card transaction or a third-party network transaction.

For further information on the 1099-K form please visit: https://www.irs.gov/businesses/understanding-your-1099-K

Common FAQs

What is the purpose 1099-K reporting?

How is the gross amount defined on the 1099-K? Why is the 1099-K amount so much higher than the amount of my deposits for the year? How is "Legal Name defined? What if my TIN or Legal Name is different than what the IRS has? What do I do with the information on Form 1099-K? What do I do if I think my Form 1099-K is incorrect? Youve issued the 1099-K form to me as an individual, but I have separate LLCs set up for my listings/properties. Youve issued my 1099-K to my LLC, but my LLC was not set up until June 30 of last year.I need the volume split between my SSN and my LLCs EIN. Idon'twant a 1099-K, I already report my income to the IRS why do you need to report as well?

YapStone may be able to issue you multiple 1099-Ks provided a few requirements are met. If your property changed ownership (even if you ultimately remained the owner of the LLC), YapStone will require proof of the change of ownership and W-9s for both the prior and current owners. If YapStone receives these documents and the payments were deposited into the bank account of the respective owners during the applicable timeframe, YapStone can issue two 1099-Ks that split the payment volume for the calendar year. Such 1099-K will report volume as such:

Volume from 1/1 6/30: Your SSN

Volume from 7/1-12/31: Your LLCs EIN

In accordance with IRS guidelines, if YapStone does not have your correct Federal Tax Identification Number and Legal Name (as on file with the IRS), your payments may be subject to backup withholding. The current federal withholding amount is 24%.

Your "legal name" isthe name you use to file taxes. If you requested a EIN from the IRS, the legal name is the name you provided to the IRS filed on Form SS-4. The Legal Name you give YapStone should match what is on file with the IRS.

The IRS requires 1099-K reporting to increase voluntary tax compliance. The 1099-K form contains informational reporting only.

The Form 1099-K is an information return. Use this information return in conjunction with your other tax records to determine your correct tax liability.

If you believe the information on a Form 1099-K is incorrect, the form has been issued in error, or you have a question relating to the form, please contact us at [email protected].

If you cannot get the 1099-K corrected, you may attach an explanation to your tax return.

YapStone may be able to issue you multiple 1099-Ks provided a few requirements are met. If your properties are operated by different LLCs with separate EIN and the payments are deposited into separate bank accounts in the names of the applicable LLCs, YapStone can issue you separate 1099-Ks. In order to do so, you must submit a W9 form for each of the separate LLCs.Once the W9s are received, YapStone will validate the information and update our records. YapStone will then check to see if any of the LLCs individually have gross payment volume that cross the 1099-K threshold and issue 1099-Ks to any LLC that is eligible to receive a 1099-K. The original 1099-K that was issued to you as an individual will be voided. If you do not meet the requirements outlined above, please consult with your accountant as you may be able to issue 1099-Ks to your LLCs.

As a payment processing entity (PSE), YapStone is required by the IRS to report gross sales volume for any merchant processing more than 200 transactions AND $20,000 in volume per year (Please note lower threshold for the States of Vermont and Massachusetts). You can think of the 1099-K like the W-2 that your employer issues to you and reports to the IRS every year. Informational reporting is the IRSs method of encouraging increased voluntary tax compliance.