As you know, the IRS requires that we have an accurate business name and Taxpayer Identification Number (TIN) on file for each of our merchants. As part of this process, the IRS sends processor a list of customers whose name or TIN does not match their records.

Our processing company will be dispatching notifications to merchants with incorrect name/TIN combinations next week.

Impacted merchants will have until December 1, 2023, to provide us with the requested information, otherwise the IRS requires that we start backup withholding 24% of their gross sales on December 4, 2023.