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Automate processes and create customized reports

These innovative tools from Visa allow agencies to automate the collection of transaction and merchant information required for filing IRS Forms 1099-MISC and 1057. Both products allow users to uniquely define the parameters to create highly customized reports.

Visa 1099 Reporting

Organize tax reporting with Visa
Use the Visa 1099 Reporting tool to help gather all the information you need to meet your agency’s IRS Form 1099-MISC tax reporting and requirements.

Learn more about how the Qualified Payment Card Agent program can minimize the need for you to solicit Form 1099-MISC information from suppliers, while helping you take advantage of some exceptions from backup withholding requirements and protecting you from penalties associated with inaccurate Form 1099-MISC reporting.

Advantages
  • Enables convenient, easy-to-use access to essential tax and regulatory information.
  • Easy-to-implement tool provides enhanced accuracy over non-automated reporting solutions.
Features
  • Access to the most complete collection of supplier information available through the Visa Merchant Profile Database (VMPD).
  • Summary and transaction detail reports.
  • Seamless online report formats for downloads or knowledge share.
  • Daily transaction updates and a rolling 25 months of historical coverage.
  • Creation of custom reports by Reporting Type: detailed or summary; Reporting Period: calendar year, calendar quarter, month, or date range; Report Format: HTML, CSV, PDF, or tab-delimited text; Output Method: view, download, or send to mailbox; Transaction Type: debit, credit, or all.
  • Merchant Category Group allowing for selection of up to 11 pre-defined merchant categories, such as airline, mail order, etc.
  • Incorporation Status allowing for selection of up to 9 pre-defined incorporation types, such as individual/sole proprietor, partnership, corporation, and more.

Visa 1057 Reporting

Meet all your reporting requirements
With the help of Visa's Socioeconomic reporting tool, filling requests for reporting requirements through collected information is easy. This tool assists you in gathering transaction and merchant information to meet supplier socioeconomic and demographic-reporting requirements (including federal Form 1057).

Advantages
  • Provides company diversity managers with convenient, easy-to-use access to essential supplier demographic information.
  • Helps companies to stay in compliance with regulatory requirements.
  • Easy-to-implement tool provides enhanced accuracy over non-automated solutions.
  • Ability to match your company's Visa commercial transactions to profiles in the Visa Merchant Profile Database.
Features
  • Summary and transaction detail reports.
  • Seamless online report formats for downloads or knowledge share.
  • Daily transaction updates and a rolling 25 months of historical coverage.
  • Creation of custom reports by Reporting Type: detailed or summary; Reporting Period: calendar year, calendar quarter, month, or date range; Report Format: HTML, CSV, PDF, or tab-delimited text; Output Method: view, download, or send to mailbox; Transaction Type: debit, credit, or all.
  • Merchant Category Group allowing for selection of up to 11 pre-defined merchant categories such as airline, mail order, etc.
  • Incorporation Status allowing for selection of up to 9 pre-defined incorporation types, such as individuals/sole proprietor, partnerships, corporation, and more.
  • Optional Report filters by vendor type, including: Minority vendor, Woman-owned vendor, 8A classified vendor, SBA Registered vendor, Small Disadvantaged Business , HUB Zone Indicator, Disabled Veteran, Vietnam Era Veteran, and Veteran.

Need further assistance with Visa Government products and solutions? Email us at: publicsector@visa.com. For questions regarding disputed transactions or other issues with your current card activity, contact your issuing bank.

Visa does not make any warranty or representation as to the completeness or accuracy of this information, nor assume any liability or responsibility that may result from reliance on such information. The information contained herein is not intended as legal or tax advice, and readers are encouraged to seek the advice of a competent tax professional where such advice is required. Even though the information contained herein does not address any significant federal tax issue, is not intended as tax advice, and Visa does not know or have reason to know that any of the information will be used or referred to by other parties in promoting, marketing or recommending any partnership or other entity, investment plan or arrangement, in order to comply with certain U.S. treasury regulations, we inform you that any U.S. federal tax advice contained in this communication, including attachments, was not intended or written to be used, and cannot be used, by any taxpayer for the purpose of avoiding any penalties that may be imposed on such taxpayer by the Internal Revenue Service. In addition, if any such tax advice is used or referred to by other parties in promoting, marketing or recommending any partnership or other entity, investment plan or arrangement, then (i) the advice should be construed as written in connection with the promotion or marketing by others of the transaction(s) or matter(s) addressed in this communication and (ii) the taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor.

 

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