Month: March 2013

The Form 1099K for Online Small Businesses

March 8, 2013

What to do when your clients receive one of the IRS’s four new business income under-reporting letters By Jim Buttonow Source: http://www.accountingtoday.com/news/It-is-Here-Form-1099-K-Business-Income-Matching-64832-1.html?pg=2 The Internal Revenue Service has always been able to match individual tax returns against information statements and propose under-reporter adjustments that come in the form of CP2000 notices. But things are changing, and … More The Form 1099K for Online Small Businesses

IRS Intensifies National Crackdown on Identity Theft; Part of Wider Effort to Protect Taxpayers, Prevent Refund Fraud

March 4, 2013

IR-2013-17 WASHINGTON — Continuing a year-long enforcement push against refund fraud and identity theft, the Internal Revenue Service today announced the results of a massive national sweep in recent weeks targeting identity theft suspects in 32 states and Puerto Rico, which involved 215 cities and surrounding areas. The coast-to-coast effort against 389 identity theft suspects … More IRS Intensifies National Crackdown on Identity Theft; Part of Wider Effort to Protect Taxpayers, Prevent Refund Fraud