Credit Card Requirements Impact Smaller Printers

Under a provision included in H.R. 3221, small business owners could be subject to backup withholding penalties as high as 28 percent, as they seek to build a TIN processing system.

Current payment card systems are not set up to identify merchants by TINs. PIA/GATF, along with the other organizations that signed onto the letter, is concerned that withholding penalties could negatively impact the day-to-day activities and viability of smaller printers.