Friday, January 18, 2013
Etax1099 Helps Transportation Companies Including Taxi and Limo Services Comply with the Special "Aggregate Payee" Rule of IRS Code 6050W in filing Form 1099-K
(PRWEB) February 24, 2012 <p> A transportation company that receives proceeds of credit card transactions from its bank, on behalf of its independent contractor drivers who accept credit card payments, and then distributes the proceeds to the driver, must issue a Form 1099-K to each driver reporting the gross proceeds. In addition, the transportation company must report all 1099-K forms to the IRS either electronically or on IRS approved 1099-K forms. If 250 or more forms are to be
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