Complete our Online W-9

Thank you for visiting our site to update your tax information. As you may already know, Internal Revenue Code §6050W requires reporting entities to track the gross amount of reportable payment transactions for all merchants starting in 2011 and report those amounts to the Internal Revenue Service (IRS) in 2012. Because of this requirement, CardCenter Payment Systems must ensure that the Tax Identification Number (TIN) and/or company legal name on your merchant account record matches the information on file for your tax reporting entity. This tax information must match or your company could be subject to IRS-imposed federal tax withholding of 28 percent on future payment transactions.

If you recently received a communication from CardCenter Payment Systems, it is because we have discovered a discrepancy between the tax information on file with us and the reporting information that has been provided to the IRS.

For your convenience, we have created a secure site where you can update your tax information by completing a substitute IRS Form W-9. This enables you to submit your tax information electronically and reduces the frustration that often comes with paper filing. You will need your Communication ID (included in your letter) to complete this process.

To get started, click on the Tax Update link to the right.

Again, this process is applicable only to merchants that received notification from CardCenter Payment Systems, regarding a discrepancy with their account information. If you have not received a notification, there is no need to take action.

Should you have any further questions regarding Internal Revenue Code §6050W requirements, please feel free to contact us at (877) 227-3009 Ext. 0 for Customer Support.

New Regulation Requires Reporting of Merchant Transactions

Effective January 1, 2011, the IRS requires all merchant acquirers to report transaction information on behalf of their merchants. This requirement is part of the Housing and Economic Recovery Act of 2008.

How will this IRS rule impact merchants like you?

Starting in 2011:

• Merchant acquirers, including CardCenter Payment Systems will be required to calculate and store the gross amount of reportable payment card transactions, coupled with the correct legal name, address and Taxpayer Identification Number (TIN) of all merchants.

• Additionally, CardCenter Payment Systems will be required to produce and file a Federal IRS 1099-K form for each merchant. This form will report the gross amount of reportable payment transactions for each merchant’s activity in 2011. CardCenter Payment Systems must supply a copy to each participating merchant by January 31, 2012 (and each year thereafter). CardCenter Payment Systems will also file these forms with the IRS.

• In addition, IRS backup withholding rules will commence in 2012. That means, if a merchant's TIN and/or legal name are missing, or there is a discrepancy between the information CardCenter Payment Systems has on file and IRS records, CardCenter Payment Systems will be required to withhold 28 percent of the merchant's reportable payment card transactions until the issue is resolved.

What is CardCenter Payment Systems doing to comply with the IRS?

• CardCenter Payment Systems is working diligently to ensure that the proper processes and tools are in place to comply with this new reporting law.

• We are verifying that the information we have on file for our merchants matches IRS tax records.

• To avoid the possibility of backup withholding, we are in the process of notifying you if we are unable to verify your TIN and/or legal name with IRS records.

As a merchant, what can you do?

We suggest that you verify your TIN via one or more of the following methods:

• Review your tax records

• Contact your accountant/tax advisor

• Consult your company's Legal or Tax Department

CardCenter Payment Systems is Here to Help

We understand that this is uncharted territory, and the requirements may be unfamiliar to you. You are a valued customer, and we are here to assist you as needed.

For more details, you may contact your CardCenter Payment Systems account executive or call Customer Support at (877) 227-3009 Ext. 0.