IRS Reporting Requirements | ABC Financial

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IRS Reporting Requirements | ABC Financial

ABC Financial would like to remind you of the IRS reporting requirements concerning 1099-K’s. The 1099-K will be sent out to all clients that had any credit card collections in the 2017 calendar year. We will send the 1099-K’s to be printed and mailed by January 31, 2018. The 1099-K will be from ABC Financial Services, LLC for your credit card collections, including all Visa, Mastercard, Discover and American Express collections. If you use ABC Merchant Services for your point of sale transactions, you will also receive a 1099-K from Central Bank for your Visa, MasterCard and Discover collections and American Express if you were enrolled into the OptBlue program. Any point of sale merchant account with a direct American Express relationship will receive a third 1099-K directly from American Express. ABC Financial will file with the IRS by March 31, 2018, so any changes must be submitted by March 23, 2018 to clientsetup@abcfinancial.com.

Please refer to www.irs.gov/businesses/understanding-your-1099-k if you would like more information regarding the 1099-K mandate. If you still need help or have other questions you can email clientsetup@abcfinancial.com or call 1-888-622-6290. You can also call your Account Executive or client services for additional help. An IRS W-9 form (www.irs.gov/pub/irs-pdf/fw9.pdf) will be required if there are any changes that need to be made to the legal entity or tax identification number.