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IRS Issues Fact Sheet on Third-Party Reporting


Sept. 5, 2006 (SmartPros) Underreported business income accounts for more than $100 billion per year in unpaid taxes, according to IRS estimates.



In order to educate taxpayers regarding their filing obligations, the IRS released a fact sheet, the third in a series, that explains the rules pertaining to third-party payer reporting of income.

Fact Sheet 2006-23 is available at http://www.irs.gov/newsroom/article/0,,id=161511,00.html.  Or visit the Fact Sheets page at http://www.irs.gov/newsroom/content/0,,id=104575,00.html

2006 SmartPros Ltd. All rights reserved.

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