Tax Gap : Administration Proposal to Require Information Reporting on Merchant Payment Card Reimbursements.

Describes current law regarding information reporting on merchant payment card reimbursements to prevent tax evasion. Examines Bush Administration proposal contained in the FY2009 budget to require each payment card processor to make an annual information report to the IRS. Describes structure of pa...

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Bibliographic Details
Corporate Authors:	Library of Congress. Congressional Research Service, ProQuest (Firm)
Format:	eBook
Language:	English
Published:	[Place of publication not identified] : [publisher not identified], 2008.
Series:	U.S. Congressional Research.
Subjects:	Budget > United States. Financial disclosure. Tax evasion. Electronic books.
Online Access:	Connect to the full text of this electronic book

Description
Summary:	Describes current law regarding information reporting on merchant payment card reimbursements to prevent tax evasion. Examines Bush Administration proposal contained in the FY2009 budget to require each payment card processor to make an annual information report to the IRS. Describes structure of payment card industry, analyzes justifications for Administration proposal, explains criticisms of the proposal, summarizes revenue offset in H.R. 6275, the Alternative Minimum Tax Relief Act of 2008; and P.L. 110-289, the Housing and Economic Recovery Act of 2008, and offers concluding observations.
Item Description:	Record is based on bibliographic data in ProQuest U.S. Congressional Research Digital Collection (last viewed Dec. 2010). Reuse except for individual research requires license from ProQuest, LLC. CRS Report. Electronic resource.
Physical Description:	1 online resource.