Advertiser Disclosure

๐Ÿ’ณ Save money on credit card processing with one our top 5 picks for 2021

What You Need To Know About The IRS’s New Reporting Requirements For Merchants

  • 1 comment
  • Updated on:
Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
Amad Ebrahimi
Amad has worked in the eCommerce and online marketing world since 2002. He started as an eBay seller, then slowly graduated to building & marketing his own websites and consulting others to do the same. He founded Merchant Maverick out of frustration with all the misinformation and shady tactics that he encountered when trying to find a merchant account for his and his client's businesses. He's the man behind most of the merchant account reviews, and articles posted on MerchantMaverick.com. Have any questions related to credit card processing? Talk to him.
Amad Ebrahimi

We've done in-depth research on each and confidently recommend them.

We've done in-depth research on each and confidently recommend them.

Leave a comment

1 Comment

Responses are not provided or commissioned by the vendor or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. It is not the vendor or bank advertiser's responsibility to ensure all posts and/or questions are answered.

    Lydia Lerner

    Paypal told us about this over a year ago and only today did we receive an email telling us that they are sending us a letter about the IRS new reporting. It was very ominous sounding that we may have to have funds withheld. If this is about the 1099k it would work the same way as all 1099s – you pay your quarterly taxes based on prior year then you will owe more in April most likely. We do have reconcile all refunds and shipping because it will be the gross but we have all known about this for over a year due to Paypal alerting us and requesting tax id updates and social security numbers.

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    Your Review

    Comment moderation is enabled. Your comment may take some time to appear.
    Please read the "User Review and Comment Policy" before posting.

    Share

    Get Started With Featured Pick! ๐Ÿ†

    is our current featured vendor in this category.




    Get Started

    Learn more today with no commitment.

    Featured Offer: We Recommend QuickBooks ๐ŸŽ‰

    Take it for a spin with a free trial.

    Try QuickBooks Today

    We Recommend Fattmerchant ๐Ÿ†

    Fattmerchant is one of our top picks for credit card processing!

     

     

    We love Fattmerchant's predictable pricing and excellent service. Get started today to see if you can save on credit card processing.

    Get Started

    Get started with no commitment today.

    We Recommend Brex Corporate Card for Startups ๐Ÿ†

    Brex Corporate Card for Startups is one of our top picks for business credit cards!

     

     

    Brex Card has $0 in annual fees. For a limited time get 50,000 rewards points when you spend $1000 with Brex.

    Get Started

    Get started with no commitment today.

    We Recommend Fattmerchant ๐Ÿ†

    Fattmerchant is one of our top picks for credit card processing!

     

     

    We love Fattmerchant's predictable pricing and excellent service. Get started today to see if you can save on credit card processing.

    Get Started

    Get started with no commitment today.

    We Recommend Fattmerchant ๐Ÿ†

    Fattmerchant is one of our top picks for credit card processing!

     

     

    We love Fattmerchant's predictable pricing and excellent service. Get started today to see if you can save on credit card processing.

    Get Started

    Get started with no commitment today.

    We Recommend Donorbox ๐Ÿ†

    Donorbox is one of our top picks for Donation Systems!

     

     

    Donorbox is a versatile, feature-rich, and easy-to-use donation management system that can help you attract more recurring donors. Get started today for free.

    Get Started

    Get started with no commitment today.

    โญ๏ธ Featured Promo! โญ๏ธ

    Sign up now and qualify for a limited time deal!

    Standard Plan: One month free ($29.95 value)
    Plus Plan: Two months free ($159.90 value)
    Pro Plan: Three months free ($899.85 value)

    Learn More

    At BigCommerce

    We Recommend Fattmerchant ๐Ÿ†

    Fattmerchant is one of our top picks for credit card processing!

     

     

    We love Fattmerchant's predictable pricing and excellent service. Get started today to see if you can save on credit card processing.

    Get Started

    Get started with no commitment today.

    We Recommend Helcim ๐Ÿ†

    Helcim is one of our top picks for payment processing!

     

     

    Helcim has exceptional service and an advanced platform that we highly recommend for businesses in Canada and the US. Get three months free when you sign up with Helcim through our links!

    Get Started

    Get started with no commitment today.

    We Recommend PaymentCloud ๐Ÿ†

    PaymentCloud is one of our top picks for credit card processing!

     

     

    We love PaymentCloud's predictable pricing and excellent service.

    Get Started

    Get started with no commitment today.

    We Recommend Lendio ๐Ÿ†

    Lendio is one of our top picks for PPP/Business Financing!

     

     

    Lendio is a free-to-use marketplace that allows you to compare lenders side-by-side. Easily find PPP/SBA loans alongside other financing options.

    Get Started

    Get started with no commitment today.

    We Recommend Lendio ๐Ÿ†

    Lendio is one of our top picks for PPP/Business Financing!

     

     

    Lendio is a free-to-use marketplace that allows you to compare lenders side-by-side. Easily find PPP/SBA loans alongside other financing options.

    Get Started

    Get started with no commitment today.

    We Recommend PaymentCloud ๐Ÿ†

    PaymentCloud is one of our top picks for credit card processing!

     

     

    We love PaymentCloud's predictable pricing and excellent service.

    Get Started

    Get started with no commitment today.

    We Recommend ADP Payroll ๐Ÿ†

    ADP Payroll is one of our top picks for Payroll Software!

     

     

    Our reviewers like ADP Payroll for its advanced employee management, strong payroll features, and great customer support.๐Ÿ‘

    For a limited time, get three months free when you sign up via our links!

    Get Started

    Get started with no commitment today.

    We Recommend Lightspeed POS ๐Ÿ†

    Lightspeed POS is one of our top picks for Point of Sale!

     

     

    We highly recommend Lightspeed POS for small businesses looking for a feature-rich, tablet-based point of sale system.

    Get Started

    Get started with no commitment today.

    We Recommend TouchBistro ๐Ÿ†

    TouchBistro is one of our top picks for Restaurant POS!

     

     

    Our reviewers praised TouchBistro for a well-designed UI, easy to use format, competitive monthly cost, and numerous integrations. Sign up today to see it in action.

    Get Started

    Get started with no commitment today.

    We Recommend Fundera ๐Ÿ†

    Fundera is one of our top picks for SBA loans!

     

     

    Fundera is a free-to-use marketplace that allows you to compare lenders side-by-side. Easily find SBA 7(a)loans alongside other financing options.

    Get Started

    Get started with no commitment today.

    We Recommend ShippingEasy ๐Ÿ†

    ShippingEasy is one of our top picks for shipping software!

     

     

    ShippingEasy got a 5-star review from our team. Get a 30-day free trial to access discounted USPS and UPS shipping rates and print labels in no time. No credit card required.

    Get Started

    Get started with no commitment today.

    We Recommend Square POS ๐Ÿ†

    Square POS is one of our top picks for Point of Sale!

     

     

    Square is free to use and currently includes a free card reader at sign-up!

    No credit card is required to create your account.

    Get Started

    Get started with no commitment today.


    ย 

    Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are authorโ€™s alone.

    Sign up for the Maverick Newsletter

    • We occasionally send out emails with special offers.