Prepare Yourself for a Whole New Year
We want to help you boast to your boss about the improvements that were made during tax season to increase efficiencies and save your organization money.
We encourage you to take advantage of our webinars and conferences and find out exactly why Convey is the strategic partner your organization demands.
Convey Cast Webinars
6050W Regulations and 1099 Reporting
If you are a bank or credit card merchant, you need to know that one of the most dramatic changes in the Housing Assistance Tax Act of 2008 has absolutely nothing to do with housing and everything to do with you: a new requirement that acquiring banks and their affiliates will be required to report payments to you and to the IRS effective in 2011.
In other words, most payments for goods and services paid by credit card or third party networks will now be reported to the IRS via a new Form 1099K, Merchant Card and Third-Party Payments.
Under the proposed regulations, Form 1099-K would be required for “reportable payment transactions” (a transaction in which a payment card — such as a credit card — is accepted as payment, or any transaction that is settled through a third party payment network).
Please join us for this free webinar with special guest speaker Paula D. Porpilia of TIN Compliance Consultants for information on what the new Form 1099-K requirements mean to you and how you can start preparing now.
DATE: June 30, 2010
TIME: 1:00 p.m. Central / 2:00 p.m. Eastern
COST: Free
