Fw: Industry Notice - New IRS Requirements for Card Processors
March 12, 2012
To All Interested Parties:
Industry Notice #12-06 March 12, 2012 For Immediate Release
Credit Card Merchant Reporting Requirements
The New York City Taxi and Limousine Commission (TLC) reminds taxicab industry members that new United States Internal Revenue Service (IRS) requirements may require credit card processing companies to file 1099-K forms for fares paid by credit or debit cards.
To learn more about the new requirement, please follow the links below and consult your tax professional.