The Internal Revenue Service (IRS) may be heading to your house. Recently, the agency announced plans to make in-person visits to high-income taxpayers who have not filed tax returns in 2018 or previous years. Are you worried about a […]
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 […]
When you filed your income tax returns for the past tax year, your tax preparer or the software program you were using probably gave an estimate of how much money you would receive back from the government. You were likely very excited to receive your tax refund. You may have planned precisely how you were […]
In 2017, the IRS hired and paid private debt collection agencies $20 million, but these firms only collected $6.7 million, meaning the IRS lost over $13 million in the process. Besides losing the government money, the program has arguably been a failure in countless other ways.
Expectations for […]
The last day of the year is just around the corner, and if you’re someone who usually faces a tax bill in April, this is your last chance to lower your tax liability for 2017. Even though there […]