As a self-employed small business owner with no employees and whose transaction methods don't provide/report any forms to the IRS, I am wondering how does the IRS check whether I declared my income at all?

So all my business income comes through online payments that don't file forms like 1099's (or similar ones). Other than this, and filing the taxes myself (which I plan to do nonetheless), I can't think of any other method the IRS has in order to check against my tax filing if filed at all?

(other than checking my bank accounts, which IIRC can't happen unless they audit me).

I am just curious as to the methods that the IRS uses to verify these kinds of reports that heavily rely on the taxpayer.

Submitted April 16, 2017 at 04:25AM by throw_away_1st_time http://ift.tt/2oA0yi6