Seven Reasons You Should File Taxes as Early as Possible
January 27, 2020
The IRS gives you until April 15th (or the following business day if April 15th falls on a weekend or holiday) to file your tax return, but ideally, you should file as early as possible. Filing your return early in the tax season gives you a lot of benefits and can potentially even save you money. Wondering why you should file early? Take a look at these reasons:
Tax Gap Holds Steady — IRS Will Continue to Pursue Taxpayers With Unpaid Taxes
October 3, 2019
In September 2019, the Internal Revenue Service (IRS) released tax gap estimates for tax years 2011 through 2013. The numbers indicate that the gap has stayed the same as the previous tax years. However, the IRS will continue to pursue taxpayers who are not compliant. Here’s what you need to know.
TIGTA Audit Reveals Issues With How IRS Handles Requests for Appeals Hearings
September 18, 2019
Established in 1998 to provide independent oversight to the Internal Revenue Service (IRS), the Treasury Inspector General for Tax Administration (TIGTA) regularly audits IRS processes. In September 2019, the group completed an audit of various aspects of the IRS appeals hearing process. The TIGTA found several mistakes that are worrisome for taxpayers.
IRS Issuing Erroneous Refunds on Amended Tax Returns
August 9, 2019
Over the last five years, the Internal Revenue Service (IRS) has issued over $2 billion in erroneous or fraudulent tax refunds related to amended tax returns. On July 31, 2019, the U.S. Treasury Inspector General for Tax Administration (TIGTA) released a report. The report detailed why these mistakes are happening. It also outlined the actions the IRS should take to get on top of this issue.
IRS OIC Acceptance Rate And Tax Levies Rise; Liens and Audits Fall in 2018
May 28, 2019
The IRS released its 2018 version of the IRS Data Book, which provides a snapshot of all activities conducted by the agency during the previous fiscal year. It covers activities that the IRS conducted between October 1, 2017, and September 30, 2018. It includes tax returns, appeals, exams, audits, levies, liens, and other tax-enforcement activities. The IRS generally releases its Data Book for the previous fiscal year in mid-May, providing additional insights into the agency’s activities over the previous months. Take a look at how the numbers have changed between 2017 and 2018.
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