Medical practices that add credit card surcharges often underestimate the tax and compliance complexity, and mistakes like misreporting revenue or mishandling sales tax can trigger IRS scrutiny, audits, and penalties. Our CEO, Eric Cohen, explains that discrepancies between reported income and 1099-K forms, along with other common pitfalls, making accurate bookkeeping, proper system setup, and clear disclosure essential to avoid fines and regulatory issues.
Credit card surcharge compliance mistakes could draw IRS scrutiny to practices
