Sandra O’Neill Quoted in The Washington Post’s “IRS Targets Your Side Hustle in Crackdown on Transactions Over $600”
It just got harder to hide from the IRS.
Starting this month, users selling goods and services through such popular sites as Venmo, Etsy and Airbnb will begin receiving tax forms if they take a payment of more than $600. One by one in recent months, tech giants have been warning users of the coming changes and asking them to provide tax information. Sandra O’Neill spoke with The Washington Post about the IRS tax:
Maybe it’s a boon to the IRS, but it’s not coming from the billionaires — it’s coming from the smaller businesses,” Sandra O’Neill, a tax attorney and partner at Bowditch & Dewey, said in an interview. “It’s much harder to go after the billionaires. It’s much harder to go after Amazon. If you have someone who makes a mistake — a small business — it’s very easy to go after them.
Continue reading “IRS Targets Your Side Hustle in Crackdown on Transactions Over $600” on The Washington Post website.
Tagged In: income tax planning, Tax