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The estimated amount of unpaid taxes (the “tax gap”) from 2014 through 2016 is nearly $500 billion. More than half of this amount is due to taxpayers who underreport their income and therefore underpay their tax liabilities. In fact, nearly 80% of the tax gap is made...
Despite the requirement for the IRS to conduct annual inventories of microfilm backup cartridges containing sensitive taxpayer account information, the Treasury Inspector General for Tax Administration (TIGTA) found that the IRS has not only failed to meet this...
A Private Letter Ruling (PLR) is a coveted letter issued by the IRS to a specific taxpayer concerning the tax law and application to one or more specific set of facts represented by the taxpayer, that are unclear. Although the PLR may only be relied upon by the...
The IRS announced today that as part of a larger transformation effort, the IRS will no longer have unannounced visits to taxpayers in most circumstances. For decades, the IRS has sent IRS Revenue Officers, those employees who are charged with collecting unpaid taxes...
The IRS continues to reopen walk-in offices and add more offices to help people who need to visit Taxpayer Assistance Centers. For those who live in underserved areas, the IRS has opened eight temporary centers for opportunities to meet in person with taxpayers who...
The IRS recently issued an update stating it dramatically improved service during the last filing season, noting it achieved an 87% level of service. The IRS was able to answer 3 million more calls and reduced hold times from 28 minutes to three minutes. An...
Taxpayers are warned to beware of a new scheme defrauding taxpayers by sophisticated fraudsters who send a letter to taxpayers in a cardboard envelope containing a letter purporting to be from the IRS notifying the taxpayer of a refund. The letter looks authentic and...
The IRS reminded taxpayers this week to file their 2019 income tax returns before July 17th because the IRS has $1.5 billion in tax refunds just waiting for taxpayers to claim. The highest refund is $6,557 per taxpayer; the average refund is $893. Don’t wait! File...
National Taxpayer Advocate, Erin Collins, issued her mid-year report to Congress noting the improvements with the current tax reporting season compared to last year. Ms. Collins urges the IRS to make technology upgrades a top priority. To read the full report, click...
The responsibility for collecting and paying the cannabis excise tax to the California Department of Tax and Fee Administration (CDTFA) shifted from cannabis distributors to cannabis retailers effective January 1, 2023. Among other requirements, cannabis retailers now...
