Merchant Accounts IRS

Discussion in 'BlackHat Lounge' started by MiLiTARYiV, Aug 29, 2008.

  1. MiLiTARYiV

    MiLiTARYiV Senior Member

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    Does merchant accounts report their merchants income transactions to the IRS?
     
  2. MiLiTARYiV

    MiLiTARYiV Senior Member

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    anybody. Any answer..LOL its lonely here
     
  3. Uptownbulker

    Uptownbulker BANNED BANNED

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    They are going to issue a 1099 in most cases.
     
  4. bhnoobz

    bhnoobz BANNED BANNED

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    My merchant processor doesn't issue a 1099. I didn't have to fill out a w9 either.
     
  5. Uptownbulker

    Uptownbulker BANNED BANNED

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    Are you stateside?

    Just curious.
     
  6. bhnoobz

    bhnoobz BANNED BANNED

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    Yeah, I'm in Arizona. The land of the insanely hot sun. Stupid 30 char message minimum.. :D
     
  7. scubaslick

    scubaslick Regular Member

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    If you mean the company processing the credit card transactions, they don't directly report to the IRS, it's none of their business, but they will respond to a request from the government about your processing volume should one be sent.

    Just like your bank.

    If the gov wants to know how much digital money you're making/receiving/spending, they WILL find out.