Throughout the year, many merchants and their accounting, customer service and legal departments work to prevent and mitigate unnecessary chargebacks from negatively impacting their business and its bottom line. While chargebacks from 2022 may be in the rearview mirror for merchants, how to best report chargebacks and their associated fees to the Internal Revenue Service (IRS) can often be an area of contention, especially starting off the new year. Monica Eaton, founder of the global transaction dispute company Chargebacks911, is informing retailers and their accountants of the best method to report their chargebacks to the IRS, as well as preventative measures merchant’s can take for next year’s tax season.
(PRWeb April 20, 2023)
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