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Tuesday, August 5, 2008

Tax Carnival Delayed

by taxnick on August 5, 2008

Muchas mea culpas to all y’all expecting the 39th Carnival of Taxes today. I’m a bit swamped, so I beg your patience, forgiveness and indulgence as I push this back a week.
Tax Carnival #39 will be up next Monday, Aug. 11. I promise!
If you submitted an item, rest assured I got it and I’ll look [...]

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New reporting to IRS of credit card transactions

by taxnick on August 5, 2008

Here’s another non-housing related measure from the recently enacted Foreclosure Prevention Act of 2008. Credit and debit card processors now will have to provide the IRS with additional information.
“Payment cards (both credit cards and debit cards) are an increasingly common form of payment to merchants for property and services rendered,” according to the Treasury Department. [...]

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