PayPal users, pay up — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

PayPal users, pay up

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in Small Business Tax

IRS officials have secured a third-party summons to identify users of PayPal because they think the popular Internet transaction service is being used to evade taxes by stashing cash in overseas accounts. Since the usual reporting requirements don’t apply to PayPal transactions, some users don’t pay the required tax.

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