The American Rescue Plan Act of 2021 lowered IRS reporting thresholds for all e-commerce platforms — including Ticketmaster — effective January 1, 2023. Any seller or fan whose annual gross transaction value across the U.S. Ticketmaster marketplace (including Account Manager) exceeds $600 will receive a form 1099 from Ticketmaster for that year.
What does this mean for fans?
The IRS and some U.S. state tax authorities may require Ticketmaster to report the amounts your fans earn from selling or reselling tickets on any of our U.S. marketplaces. Ticketmaster is required to file a Form 1099-K report with the IRS when the gross revenue received from transactions on our U.S. marketplaces meets or exceeds $600 in a calendar year per seller.
For fans who meet or exceed this $600 threshold, Ticketmaster will provide a copy of the Form 1099-K. Generally, fans should expect to receive this form by January 31 of the following calendar year. On this form, Ticketmaster is required to include the gross amount of all reportable transactions the fan made during the calendar year. The gross amount may include the price of the tickets resold, as well as fees and other amounts related to ticket sales, without adjustments for credits, discounts or refunds. Fans who do not reach the threshold of $600 in any calendar year will not receive a Form 1099-K from Ticketmaster.
Many U.S. states may also require Ticketmaster to report earnings on transactions made on our U.S. marketplaces, however, state earning thresholds may differ from the federal requirement. Ticketmaster will provide fans a copy of any mandatory state earning forms.
Ticketmaster will provide fans with a transaction amount for each sale via the “Order Sold” email confirmation. Fans may also see a history of their sold transactions in their “My Listings” page on Ticketmaster.com.
What does this mean for event organizers?
Fans will be notified of this requirement when they sell on any Ticketmaster U.S. marketplace (including Account Manager). No action is required on the part of Event Organizers to communicate this change.
What information will fans be required to provide to Ticketmaster?
In accordance with applicable laws, for tax purposes Ticketmaster collects certain taxpayer information, including Legal Name, Address, Phone Number, and Tax Identification Number (TIN), from individuals and entities considered U.S. persons that sell tickets on our U.S. marketplaces. Tax Identification Numbers (TIN) include a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN), for fans selling as an individual, or an Employer Identification Number (EIN), for those selling through a legal entity. To avoid issues with processing, a fan’s legal name must match the name they use for tax purposes, and all fields must be entered accurately. Ticketmaster will never ask a fan to provide this information over the phone or via email. If a fan fails to provide their taxpayer information, they will not be eligible to receive payment until their information is provided. Fans who are not subject to U.S. tax law must confirm their status when prompted in order to receive payment.
How will fans’ information be handled?
Once a fan logs in and submits their taxpayer information on our secure Seller Tax Details page, Ticketmaster will submit the provided information to the IRS for verification. Fans will receive a confirmation email once Ticketmaster receives verification from the IRS. Ticketmaster will maintain the taxpayer information in a secure database. When required, Ticketmaster will provide fans a copy of any mandatory state forms.
Additional questions?
For questions specific to Ticketmaster sales, please refer fans to our 1099-K Form FAQ on our Help Page. For more information about the Form 1099-K, please refer to https://www.irs.gov/pub/taxpros/fs-2022-41.pdf.
I've got the inside scoop on the American Rescue Plan Act of 2021 and its implications for Ticketmaster users. You won't need a backstage pass to understand this. Let's break down the key concepts:
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Lowered IRS Reporting Thresholds: The American Rescue Plan Act of 2021 shook things up by lowering IRS reporting thresholds for e-commerce platforms like Ticketmaster, effective January 1, 2023. This means Ticketmaster must now report transactions exceeding $600 annually.
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Form 1099 from Ticketmaster: Sellers or fans crossing the $600 threshold will get a Form 1099 from Ticketmaster, detailing their gross transaction value. Ticketmaster is the messenger for IRS reporting.
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Form 1099-K Reporting: Ticketmaster has to file a Form 1099-K with the IRS for sellers whose gross revenue hits or exceeds $600 in a calendar year. This form, usually received by fans by January 31 of the following year, encompasses the gross amounts of all reportable transactions, including ticket prices and associated fees.
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State Tax Reporting: Fans might also get state-specific forms from Ticketmaster, as some U.S. states have their own earning thresholds and reporting requirements.
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Notification for Event Organizers: Event Organizers need not break a sweat; Ticketmaster will notify fans about these changes when they sell on any Ticketmaster U.S. marketplace. No additional action is required from the organizers.
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Information Required from Fans: To comply with tax laws, Ticketmaster collects essential taxpayer information like Legal Name, Address, Phone Number, and Tax Identification Number (TIN). TIN can be a Social Security Number (SSN), Individual Taxpayer Identification Number (ITIN), or an Employer Identification Number (EIN) based on the selling entity.
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Secure Handling of Information: Fans submit this information securely on Ticketmaster's Seller Tax Details page. Ticketmaster verifies it with the IRS, and once confirmed, maintains the data securely. Fans not providing taxpayer information won't be eligible for payment.
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Confirmation and State Forms: Fans receive a confirmation email after providing information. Ticketmaster also retains the taxpayer information for state reporting and will furnish fans with state forms when necessary.
If fans have burning questions about Ticketmaster sales or the Form 1099-K, they can check out the 1099-K Form FAQ on the Help Page. For the IRS nitty-gritty, there's a handy link: . Now you're all set to navigate the tax concert!
