Merchants May Find Help With Credit Card Costs

  Government, Politics and the Economy Partisan Lines Forming Over Healthcare Reform The top Senate Democrats and President Obama appear aligned in support of a government-run health insurance option, facing off against Senate Republicans who say they refuse to won't back such a measure. New Bill Could Help Merchants with Credit Card Costs Under a new bill before the House of Representatives, merchants would be able to negotiate with banks to reduce the costs associated with credit card purchases. [Read Full Article]

Small Business Tax Audit Triggers

Being audited by the IRS can be a terrible and expensive ordeal. True, the odds of it happening are very slim, but if it does happen, it means time and money—potentially a lot of money—and possible criminal prosecution. The problem for the small business owner is that the IRS has a special interest in auditing small firms, so much so that Congress is starting to take notice. At a recent hearing of the House Small Business Committee, Committee Chair Nydia Velázquez (D-NY), questioning Internal Revenue Service Commissioner Douglas Shulman about the rise in IRS small-business audits said, “I find the IRS’s recent shift in auditing attention from large companies to small businesses troubling. Our nation’s entrepreneurs are having a difficult enough time without the IRS stacking the deck against them.”  “Like all taxpayers, entrepreneurs just want straightforward answers to questions and a clear-cut process to file their taxes,” said Vel&aa... [Read Full Article]