Thread: Credit card fee
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Old 09-04-2022, 07:30 AM
retiredguy123 retiredguy123 is offline
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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.