The issue is misstated

Reader comment on: IRS Audits of Small Businesses

Submitted by Lyle (United States), Feb 23, 2010 08:24

If you have copies of the statements from the processor showing amounts payees and times, then you could show a match between the 1099 in amount and source. That should do the deal. This is targeted at the E-Bay seller who runs a significant business but does not get 1099 because the seller deals with people. The irs wants to catch this. I don't think the statements from the processor are 1099s as such just records of payments made. If your 1099 total is higher than the payments received there should be no problem.


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Other reader comments on this item

Title By Date
There are new IRS reporting requirements [22 words]GH#1Mar 2, 2010 10:51
Double counting [45 words]Fred BrewittFeb 25, 2010 08:51
⇒ The issue is misstated [94 words]LyleFeb 23, 2010 08:24

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