Concerns over how best to report and reconcile items on the form 1099-K have plagued retailers and individuals alike since legislation was passed by Congress in 2008 requiring the issuance of forms 1099-K for third party merchant and credit card payment processing which meets certain criteria.

FORBES: IRS Continues to Weigh In on New Credit Card Reporting Requirements

All of which brings us to the case of Mikael Patrick Sallnert, 37, a citizen of Sweden, who established and operated credit card payment processing services for the scareware ring cited above.

FORBES: Swedish Scareware Scammer Sentenced

Sales at First Data's other two businesses (payment processing for merchants and credit card services), which had a combined 21% operating margin, were flat.

FORBES: Spinoffs