Making TIN Compliance Less Taxing on You

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 Premium Card Solutions 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, Premium Card Solutions 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 Premium Card Solutions, 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 both your Merchant Identification Number (located on your merchant statement) and your registration code (included in your letter) to complete this process.

To get started, click one of the Tax Update links to the right.

For more information on how to read your IRS Form 1099-K, click here.

Again, this process is applicable only to merchants that received notification from Premium Card Solutions, 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 888.780.9595 or review the 1099K FAQs on the IRS website.