Pay in tax more than their net gross profit

Reference no: EM133611985

Question: It is a bit surprising that the IRS requires all revenue from all sources to be claimed, but is refusing to recognize the very large percentage of Cost of Goods Sold. This decision essentially makes it impossible to run a profitable business. The IRS's job is to collect due tax revenue, but that can't be done if a business is required to pay in tax more than their net gross profit.

Reference no: EM133611985

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