Content about Receipt

February 22, 2012

In a definitive answer to questions about 1099K reporting requirements, which relates to debit and credit card receipts, the IRS has said it will not require retailers and businesses to separately reconcile reimbursement information, such as cash back, sales taxes, state and local deposits, and other non-income related dollars from the gross receipts.

The IRS letter came in response to an inquiry from the Retail Industry Leaders Association (RILA), an Arlington, Va., trade group.

March 28, 2011

An article in the Toronto Star reported that Ontario taxpayers have been hit with an $18.6 million bill for the province's eco-fee program, discontinued last summer after an outcry from consumers who noticed extra charges on their receipts.

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