Congress may allow IRS credit card access Business First of Buffalo – by Kent Hoover Bizjournals.com Congress is on the verge of requiring payment card processors to tell the Internal Revenue Service how much money merchants receive through credit card and debit card transactions. The Bush administration thinks this kind of third-party reporting of revenue would encourage more businesses to report their income accurately. This could help close the tax gap — the difference between what the government is owed in taxes and what it actually collects. Congress views the requirement as an easy way of raising revenue to pay … Continue reading Horrendous assault on privacy