Quote:
Originally Posted by Exhibitman
I don't get that logic either. Most of the average person's income is already reported and papered: W2, 1099INT, K1, etc. What difference does it make if there is one one piece of paper in the pile? The tax reporting obligation remains the same regardless.
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The same reason charitable deductions (not donations) went down when the IRS started requiring documentation. Overstating went down because of documentation and now understating is going to take a big hit.
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