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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A Complete Guide For Processing Credit Cards Online and Over the Phone

So, you’ve decided you want to accept card-not-present (CNP) payments. It’s a lucrative investment—because who doesn’t love the convenience of shopping online or calling in an order instead of making a trip to the store? Statistics tell us it is, too. There was a 15.5% increase in U.S. ecommerce sales from 2016 to 2017, with […]

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