Talk of The Villages Florida - View Single Post - Credit card fee
Thread: Credit card fee
View Single Post
 
Old 09-04-2022, 07:30 AM
retiredguy123 retiredguy123 is offline
Sage
Join Date: Feb 2016
Posts: 17,503
Thanks: 3,064
Thanked 16,667 Times in 6,594 Posts
Default
Quote:
Originally Posted by birdawg View Post
Cash helps the restaurant hide paying taxes.
Yes, and since 2008, banks are required to report the credit card activity of businesses to the IRS.

Even the IRS has said that many restaurants significantly underreport their income, especially independent restaurants who don't need to report income to a franchiser.