Back in November 2016 me and a friend partnered up to create an e-commerce business which would dropship merchandise at a good markup. I had $70,000 go through my PayPal account and in turn they sent the IRS a 1099-K form showing all that money received. My partner handled the credit card side of the business through shopify and assured me he was putting away money to cover taxes to pay the IRS when the time came. Lo and behold, he (most likely) has no money put away for this and never even reported his earnings to the IRS. I would send PayPal money to his PayPal account so he could pay for our substantial advertising costs but despite attempts to contact him, he is not replying to me in my attempts to get the pdf's or proof of payment so I can get my deductions. What are my options here?
Submitted April 09, 2017 at 06:26PM by kevinmorales18 http://ift.tt/2nvn3HP
