Sunday, October 16, 2011

IRS COMING AFTER YOUR CASH SALES Part I

In January 2012, your company and IRS will received from your payment card processor Form 1099-K, Merchant Card and Third Party Network Payments. The 1099-K shows company gross aggregate reportable payment transactions for calendar 2011 and for each month. The IRS will compare this data to your company’s income tax return.

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