IRS matches income to your return

Did you know the IRS is matching 1099 forms to your income tax returns?  Many times the matching turns up a discrepancy that is not your fault.  Or, the IRS has not matched the amended 1099 to your return.  Some businesses are on a fiscal year end and the 1099 is on a calendar year end that will result in a miss-match.  The newer 1099-K form matching program is off to a rocky start because reporting from credit card companies or eBay or PayPal are not showing the same dollar amounts as the taxpayers who received these forms.  The IRS is mailing notices accusing you of underreporting cash receipts.  If more than one business uses the same credit card or PayPal account the IRS is “looking” for more taxable income.  Be prepared the problems have just begun!