A request for public comment reveals the IRS is considering updates to the Voluntary Disclosure practice. The agency states its “commitment to improve its processes, and to further incentivize non-compliant taxpayers to come into compliance.” Key Takeaways Now That the IRS is Considering Updates to the Voluntary Disclosure Practice: The...
If You Owe the IRS More than $50k You’re About to Lose Your Passport
If you owe the IRS more than $50k you are about to lose your passport. The US Congress passed legislation in December requiring the IRS to provide a list to the US State Department of all US taxpayers who owe the IRS $50,000 or more. If you owe the IRS...
IRS Targeting Billions from Non-Filers
The IRS announced it has a new automated way to raise a substantial amount of taxes from US taxpayers who fail to file US tax returns. The new announcement from the Treasury Inspector General for Tax Administration says enforcement is aggressively increasing and has new focus at the IRS targeting...