Debit and Alternative Products

Acquirers Dealing With Obstacles While IRS Delays Penalties on 1099-K Reporting

A one-year reprieve from full compliance with the new IRS 1099-K reporting regulations has acquirers breathing a brief sigh of relief. However, late additions to the form will have many revising reporting infrastructure -- and incurring additional costs -- on building processes whose costs cannot be directly passed through to the merchant, by order of the statute. Processing platforms with agile architecture have a clear advantage.

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