wallygator69
Recycles dryer sheets
- Joined
- Jan 27, 2006
- Messages
- 372
Hi,
My brother just got a notice for the need of a business license for a rental condo.
He has owned it for 15 years and just got the notice this year. The city wants gross receipts from day 1. He doesn't have his 1099's before 2015. The gross receipts average $30k per year $450k total yet his net is $5k per year. There are going to penalties..
He wants to report only back to 2015 which will still be a $180k. He thinks they would be happy with the "windfall" and go deeper...
The application states...... I declare under penalty of perjury the foregoing is true and correct and that I am an authorized representative of this business.
What could possibly happen if he just says he gave them what he could off the 1099's he has.
Thx
Wally
My brother just got a notice for the need of a business license for a rental condo.
He has owned it for 15 years and just got the notice this year. The city wants gross receipts from day 1. He doesn't have his 1099's before 2015. The gross receipts average $30k per year $450k total yet his net is $5k per year. There are going to penalties..
He wants to report only back to 2015 which will still be a $180k. He thinks they would be happy with the "windfall" and go deeper...
The application states...... I declare under penalty of perjury the foregoing is true and correct and that I am an authorized representative of this business.
What could possibly happen if he just says he gave them what he could off the 1099's he has.
Thx
Wally
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