• The PPJ Gazette
According to “The Great American Tax Dodge”, the IRS is far more apt to go after middle-income non-filers and does not fully investigate affluent non-filers. The IRS uses the lame excuse that the rich may under-state the taxes owed and that the IRS would prefer nothing over under-stated taxes. It is more likely that the IRS avoids investigating the rich because they have resources to oppose the IRS. The IRS is more apt to harass middle income earners who pay fines easily without a fight.
The new ObamaCare 1099 rule for reporting of all cash, credit and check business transactions of $600 or more is scheduled to begin January of 2012. This is really an extension of the 2008 Housing and Recovery Act IRS rules that start this January when merchant banks and PayPal will report business sales directly to the IRS (the reporting threshold is $20,000 and 200 transactions a year).
These new IRS rules will affect every American:
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