Articles by tag: IRS
If the IRS having more scrutiny over bank accounts makes you squirm, then buckle up. A proposed change to bank reporting standards would require banks to report $600 or more in transactions to the IRS, allegedly to help the Treasury catch wealthy individuals concealing income and committing tax fraud. Is this out of step with the […]
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How a New Tax Proposal Can Improve Tax Compliance Among Businesses
3 Key Points: Tax proposal could close up the use of LLC’s by foreign individuals who provide services abroad which is currently considered foreign income by the United States but often times not taxed in the foreign country. A change to the 1099-K to $600 could make an impact on how many LLC’s continue […]