advice on $15 payment for $848 bill?!

[Gail in Virginia]

On 5/13/2018 at 2:03 AM, Edsel said:

But if you follow the instruction to its logical conclusion, this means you cannot tell anyone who your customers are.  I wonder how many of us never violate that one.

 

That is my understanding of exactly what the statute means.  If I know someone only because I do their tax return, I will not even admit that I have met them.  And all of my employees sign confidentiality agreements that spell out they are never to admit to knowing anything about anyone they see here at the office, or they don't work here.

I have wondered, if I decide to retire and sell my business, how I can do that and still not violate this law.

[jklcpa]

1 hour ago, Gail in Virginia said:

I have wondered, if I decide to retire and sell my business, how I can do that and still not violate this law.

Gail, that disclosure would be permitted under Treas Reg 301.7216-2, see item (n).  If selling, it's best practice to have potential purchasers screened and obtain a nondisclosure agreement from any potential purchaser ahead of releasing any actual client list, allowing any due diligence, or informing any employees of the potential sale. 

[WITAXLADY]

ya - our rule is we do not even tell family members if other family comes here or answer if they ask - neighbors etc, especially would never mention  names in public - I could say did you know that so and so stiffed someone (else)!!!