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Taxman using the Social networking sites |
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Category: Finance and Credit Current Grade: A Total Views: 1057 Member Comments: 2 |
Posted on: 02/05/2010 Posted by: cperkcpa Blog Points: 418 View all blogs >> |
The Wall Street Journal recently published an article. The subject of the article is how the taxman is using social networking sites. Most of us pay our taxes, but some do everything they can to avoid paying the taxes. Social networks are becoming one more way for the IRS and other tax agencies to find them.
So true. There are many ways that regulators of all kinds can use the internet and other technology to discover illegal activities.
I have heard of many cases were auditing one persons books as resulted in audits of everal other individuals books. Cash payments stand out in an audit. The means of paying your bills is not a problem, but it is not uncommon for those receiving cash to believe no one knows about their income.
Good post Charles! And the Taxman is not the only regulator that can search for violators of law! Bill