Here’s news for Paypal earners – they will now have a tax form to fill, and of course, their online incomes are no longer below the radar as in the (golden) years past. Their bane though, is the government’s gain (think $378 billion, which is the tax gap). But it’s not all grim news in this Infographics. Also listed are the tax deductions most commonly overlooked by small businesses and the 5 largest tax credits and the movement to prohibit the IRS from letting loose the goose that would lay them new golden eggs.
But like some people said – paying big taxes – that’s a good problem to have.