IRS cracking down on tax evaders using PayPal

Posted on November 6, 2005, 10:45 pm by E-junkieChef under News

Law always takes some time catching up with technology. With online payment systems, some people have been taking advantages of loopholes to evade taxes. Recently IRS has started looking up people who use offshore accounts in tax haven countries to funnel their money. IRS will also be looking into any "laundering" activity.