Why Did PayPal Close My Account?

You just finished a new website, fine-tuned your business strategy, and stocked up on consumer-ready inventory. Your business is ready to begin accepting payments online. PayPal seems like a good choice to accept credit cards on your website. After all, it’s a large, well-known payments service you may already have used for peer-to-peer payments.   […]

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1099-K: History and Hints

Section 6050W of the IRS tax code came with the Housing Assistance Act of 2008 (although it’s completely unrelated to housing) and introduced us to the 1099-K. Known as the “Merchant Card and Third Party Network Payments” form, the 1099-K is an IRS effort to increase tax compliance and decrease the “tax gap,” or the difference […]

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Opening a High Risk Merchant Account

The silver lining of having a high risk business is that there will be a smaller and less overwhelming pool of merchant account providers to choose from when you’re trying to set up credit card processing. Instead of having to research and choose from thousands of providers, you can focus your efforts on a narrower […]

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