On May 27, IRS Commissioner Doug Shulman discussed information reporting at a program hosted by the American Payroll Association. While discussing a change in the law that requires reporting on payments made from businesses to corporations, the Commissioner explained that the IRS would use its administrative authority to exempt from the reporting requirements transactions conducted between businesses and corporations when using payment cards.
To review the Commissoner's remarks, please click here.
Posted by Joshua Hock, Associate Editor, Wealth Strategies Journal
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