Posts Tagged ‘tax compliance’

Will You Be Paying With Cash, Credit Or Bitcoins?

Wednesday, January 29th, 2014

Bitcoin has been all over the news lately, and you may be asking – what exactly is it? Bitcoin is a virtual currency. Only existing online, it’s powered by its users and not backed by any government agency. This new currency offers anonymity, convenience, helps facilitate international commerce and can fluctuate in value. Check out www.bitcoin.org for more information and frequently asked questions.  (more…)

Do you need to report large cash payments to the IRS?

Wednesday, April 4th, 2012

$10,000 in cash is the same as a $10,000 check, right?  Not from the perspective of the IRS.  If your business receives $10,000 in cash from a single transaction (or multiple related transactions), you’re required to report it to the IRS. (more…)