- Starting in 2011, the IRS began mandating that all Merchant Service Providers, like Allied Payments, report income back to the IRS annually. Per federal law, we are required to report this information to the IRS.
- Per IRS regulations, 1099-K forms will include the gross processing figures for the previous year. They will not include your fees paid or any breakdowns of sales processed.
- As part of the reporting process, you’ll receive a 1099-K form to comply with IRS regulations at the address on file with your merchant account.
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