One thing I learned a long time ago is that you better have your books in order when it comes to getting audited by the IRS. I always wondered if people were trying to hide some of their financial activities behind the Paypal login. Well it appears that the IRS is requesting info from PayPal and if you have been running a business and not reporting income on transactions within paypal you may be in for a surprise.
One thing that I did specifically this year was to make sure that everything was accounted for because once you sit through a audit you will learn that every transaction counts and if you miss something that would have made your tax bill increase, well stand by for penalties.
I sure hated writing my CPA the large check I did this year, but if your online, in business and moving money around you better be ready to respond to the call from the man. [www.pcworld.com]