The Taxpayer Advocate recently wrote about concerns with the new IRS enforcement program for “seriously delinquent tax debt” that allows for the denial of an passport application or revocation of a passport. The IRS announced that it had started certifying taxpayers to the Department of State in March. For more […]
Category: IRS Tax Collection
States are struggling to keep up with business innovations. The process of doing business has changed in recent years. Over the last few decades more and more business transactions are occurring online, causing the states to question when a business operates within its borders and is subject to state taxes. […]
The IRS has a vast arsenal of tools to use when collecting taxes. It has a tool, however, that it can use to cut its losses, so to speak, in a case when full collection from a taxpayer is doubtful: the offer in compromise, sometimes referred to as an OIC. If […]
In spite of repeated instances of tax debt collection scams – some of them serious enough to warrant specific warnings from the IRS – the agency has once again chosen to outsource tax collection efforts to private debt collectors. This means that, in theory, the phone calls and letters you […]
It appears the old “location, location, location” adage for real estate holds true in the world of taxes as well. A recent study by professors out of two prestigious universities in the great state of Texas, the University of Texas at Austin and Texas A&M University, have found that the […]
We have been closely following how and when the IRS and Department of State may start to revoke or deny passports for tax debt. Facing the prospect of further budget cuts, how will overall IRS collection activities be affected? The number of people employed at the agency has plummeted 31 […]
President Donald Trump recently signed a new travel order that limits entrée to the U.S. for people coming from certain countries. This highly publicized notice has many American companies scrambling to work around travel restrictions for remote or traveling employees that could leave them stranded outside the U.S. A much […]
The 2015 Fixing America’s Surface Transportation Act added a tool for the IRS to collect large tax debts. This was likely included as a measure to pay some of the cost of the bill. The IRS working in coordination with the U.S. State Department was granted the power to deny, revoke […]
Few groups within the IRS have been spared cuts as funding has failed to keep up with inflation. After losing almost 21 percent of its staff between 2012 and 2015, Appeals has needed to reorganize. Three functional offices – Collection, Examination and Specialized Examination Programs and Referrals – replace two […]
The IRS has reportedly received more than 8,000 public comments regarding proposed changes to how the agency determines valuation discounts under Section 2704 of the U.S. Tax Code. This provision, contained in Reg-163113-02 of the agency’s regulations, deal with discounts allowed for valuation of business holdings and assets for purposes of calculating […]