So now the IRS, in another Orwellian move, is going to track merchant credit card sales , and send a 1099-K to merchants processing over a certain threshold...according to trade journals it will cost the processing industry 100 million to reprogram their computers to meet this requirement.
But the processors will mark up the fee for the 1099-K...and make an additional 300 million in revenue...I want to say only in America....
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