It would be smart to review a copy of the sponsor'screditreporttoverify past borrowing and repayment history, and evenrequestingtaxreturnswould not be out of bounds.
Among the oddities of this policy: While corporations would, on average, pay no more in tax than they do today, nearly one million successful businesses that report their income on individual taxreturns would get clobbered.
Sole proprietors report business income on their individual taxreturns and, the IRS says, they account for the biggest share of the tax gap, which is the difference between what taxpayers owe each year under the law and what they actually pay.