The IRS is contacting small businesses based on a determination that close to $450 billion of taxes goes uncollected and approximately $140,000 billion of that amount is owed by small businesses. By identifying small businesses with high credit card sales, the IRS is confirming that cash sales are not being under-reported. For more details, see the CNN Money article written by Jose Pagilery.
IRS Targets Small Businesses for Tax Payments
On behalf of Law Office of Williams & Associates, P.C. | Aug 22, 2013 | IRS