“Small business owners across the country are receiving letters from the IRS questioning if they are reporting all of their cash income, in a new push by the agency some are saying could unnecessarily create fear in the small business community. The Wall Street Journal reports the initiative is an attempt to respond to what the agency feels is a widespread failure by small businesses to report all their cash sales. The agency says the letters are not the same as an audit, and it is simply seeking more tax information from the businesses. However, some lawmakers and business owners who received the letters say the initiative is alarming.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
In Duterte's anti-drug pogrom, police and cameras tell different stories
U.S. auto bailout cost keeps rising
UN report: Afghan insurgents use marijuana fields as hiding places
I was a Saudi arms dealer’s ‘pleasure wife’
Party like it's 1999! Dow, S&P 500, Nasdaq all hit new highs
Iowa Rep. Steve King wants bill to repeal everything Obama has done
Supreme Court to decide whether police can take your blood without your permission
New York state to mull bitcoin licensing proposal
News junkie's open-source project links Bitcoin with publishers
Government sale of personal gene data condemned as ‘unethical and dangerous’
Eric Holder ‘confident’ of bringing NSA whistleblower Edward Snowden ‘to justice’
British central bank softens rules for banks to give economy £70bn boost
California poised to become first state to impose full ban on lead bullets
U.S. will ‘respond’ to North Korea’s provocations, says Chuck Hagel
The daughter of Cuba’s vice president defects