5 Reasons why 1099K data won’t fill in the tax gap

With oil prices down 50% since Fall 2014, state revenue agencies are seeking ways to overcome the shortfall without increasing taxes.  The simplest answer is improved enforcement: discovery, lead development, audit and collections are key aspects of that.  The IRS’s IRMF data by state payee from 1099K filings is a good start if you haven’t

Municipal Business Licensing & Revenue Enhancement

Municipal Business Licensing and Revenue departments can leverage online open source websites to identify businesses that would otherwise not be discovered operating in their locality.  Many businesses are aware of the power of advertising Local Services online, but they may not be aware of the taxation implications of a particular city or locality.  Revenue enhancement

Vacation Rental Tax Leads

Municipalities seek to bridge the tax gap by ensuring that property owners who provide short-term vacation rentals are paying their registration and rental tax obligations.  Short term vacation rental (STR) sites such as VRBO, HomeAway, AirBnB and others make it easy for property owners to advertise their short term rental (less than 30 days) to

State / Federal Tax

Underground business typically does not report taxes to state or federal authorities.  A lot of small business uses eBay, the popular online auction website, to sell products to anyone around the globe.  If the business is based out of your state or country, and you are interested in identifying those not reporting tax or reporting