Internal Revenue Service has taken steps to improve the offer in compromise process for both taxpayers and the IRS, but it can still do more, according to a new report. An offer in compromise is an agreement between a taxpayer and the IRS that settles a tax liability for a payment of less than the…
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OVDP Does Not Cause Green Card Holders To Be Deported.
On Tuesday, February 21, 2012, we posted Filing False Returns is a Deportable Felony - Supreme Court, where we discussed that the U.S. Supreme Court Feb. 21, 2012 decided that lawful permanent residents who have pled guilty to charges related to the filing of false tax returns that resulted in a loss to the government of…
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IRS Targets Nonfilers To Aid In Collecting Billions in Taxes
The report, from the Treasury Inspector General for Tax Administration, said the IRS has a strategy in place as part of its Case Creation Nonfiler Identification Process to identify taxpayers who have not filed a tax return and are required to do so if their income is above a certain threshold. The IRS typically issues…
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TIGTA Report Concludes That IRS’s Lax Enforcement of Backup Withholding Is Costing $9 Billion in Lost Revenue
The Treasury Inspector General for Tax Administration (TIGTA) issued a report concluding that the IRS’s lax enforcement of backup withholding requirements is potentially causing billions of dollars in lost revenue (TIGTA Rep’t No. 2016-40-078). The report goes on to say that which says that, although the majority of information returns are submitted by payers with valid…
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