Comments on: “Housing Bill” Affects E-commerce Merchants http://www.merchant911.org/blog/index.php/2008/08/04/housing-bill-affects-e-commerce-merchants/ Comments on credit card fraud from the E-Commerce Merchant point of view by Tom Mahoney, Founder and Director of Merchant911.org Fri, 13 Jan 2012 06:40:43 +0000 hourly 1 http://wordpress.org/?v= By: David D http://www.merchant911.org/blog/index.php/2008/08/04/housing-bill-affects-e-commerce-merchants/comment-page-1/#comment-1384 David D Wed, 06 Aug 2008 18:32:20 +0000 http://www.merchant911.org/blog/?p=140#comment-1384 And... who do you think is going to fund the extra manpower needed at the processors to report this to the IRS? I'm sure they will just take that as a cost of doing business, without passing it on to the merchants [/sarcasm] And… who do you think is going to fund the extra manpower needed at the processors to report this to the IRS? I’m sure they will just take that as a cost of doing business, without passing it on to the merchants [/sarcasm]

]]> By: JD http://www.merchant911.org/blog/index.php/2008/08/04/housing-bill-affects-e-commerce-merchants/comment-page-1/#comment-1382 JD Tue, 05 Aug 2008 18:04:01 +0000 http://www.merchant911.org/blog/?p=140#comment-1382 And my personal experience with bureaucracies says the merchant account companies will neglect to deduct any refunds, voids, and chargebacks. Mr IRS will assume we under-report by that amount... I know my CPA will be smiling. Another form, another few dollars to them! And my personal experience with bureaucracies says the merchant account companies will neglect to deduct any refunds, voids, and chargebacks. Mr IRS will assume we under-report by that amount…

I know my CPA will be smiling. Another form, another few dollars to them!

]]> By: Tom Mahoney http://www.merchant911.org/blog/index.php/2008/08/04/housing-bill-affects-e-commerce-merchants/comment-page-1/#comment-1381 Tom Mahoney Tue, 05 Aug 2008 16:11:47 +0000 http://www.merchant911.org/blog/?p=140#comment-1381 I'm not sure it's an issue to most merchants other than additional paperwork since you'll get something similar to a 1099. On the other hand, I wonder how many personal eBayers will be affected. And then there's processors, banks, PayPal, 2CO, etc. It looks like all of them are going to have a massive job ahead of them. I’m not sure it’s an issue to most merchants other than additional paperwork since you’ll get something similar to a 1099.

On the other hand, I wonder how many personal eBayers will be affected.

And then there’s processors, banks, PayPal, 2CO, etc. It looks like all of them are going to have a massive job ahead of them.

]]> By: KAY http://www.merchant911.org/blog/index.php/2008/08/04/housing-bill-affects-e-commerce-merchants/comment-page-1/#comment-1380 KAY Tue, 05 Aug 2008 15:28:02 +0000 http://www.merchant911.org/blog/?p=140#comment-1380 I do not understand why that is an issue. By law we must report our income. If we are working legally this does not effect us at all. And all deposits are to a checking account so there is already a paper trail for IRS already to track all deposits. I do not understand why that is an issue.

By law we must report our income. If we are working legally this does not effect us at all.

And all deposits are to a checking account so there is already a paper trail for IRS already to track all deposits.

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