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American Payroll Association (APA) Basic Guide to Payroll, 2013 Edition
It's more important than ever to be in compliance with payroll laws and regulations! How do you stay in compliance and avoid penalties? The APA Basic Guide to Payroll is written to make understanding the laws and regulations as easy as possible. And this single-volume guide is filled with tools to help you apply the law and make proper calculations – with ease!

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CCH® PAYROLL — 03/07/13

IRS issues FAQs on payment cards

The IRS has released Frequently Asked Questions (FAQs) covering payment card and third-party network transactions. The general FAQ discusses Form 1099-K, on which amounts of these transactions are reported, as well as what information is reported, when the reporting must be made, electronic filing, payee statements, exceptions to the reporting requirements, foreign entities, cards used on behalf of a business, payee tax identification numbers, changes for the 2012 tax year, payment settlement entities, IRS use of the data, how to make corrections to the form, and the use of payment cards in connection with internet auctions. The FAQ on payment card transactions covers merchant acquiring entities, the qualifications for a payment card, persons responsible for reporting payment card transactions, Merchant Category Codes (MCC), and receipts classified under more than one MCC. The FAQ on third-party network transactions includes discussion of the nature of third-party settlement organizations, health care organizations, accounts payable departments, persons responsible for reporting third-party network transactions, automated clearing houses qualifying as third-party settlement organizations, and reporting of MCCs by third-party settlement organizations. The FAQs are reproduced in the CCH PAYROLL MANAGEMENT GUIDE New Developments Division at ¶9513. (General FAQs on Payment Card and Third Party Network Transactions; Payment Card Transactions FAQs; Third Party Network Transactions FAQs.)

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