The Taxpayer Tribune Issue 52  March 19 2022

IRS provides more forms, letters and publications in multilingual and alternative formats: Spanish Braille now available | Internal Revenue Service

In an effort to provide American taxpayers with the service they deserve, the Internal Revenue Service announced today the latest expansion of its multilingual products, Braille, text, audio and large print products are now available in Spanish.

irs.gov  

Cash-rich states create 'competitive environment’ with flurry of tax cuts

There’s been a wave of state-level tax cuts spurred by budget surpluses, and more may be coming, policy experts say. Here's what taxpayers need to know.

cnbc.com  

What Can The IRS Do Better For Taxpayer Privacy Instead Of Facial Recognition?

Marie Sapirie examines what the IRS can do for identity verification to better respect taxpayers’ privacy interests than it did with its implementation of a facial recognition system last year.

forbes.com  

Tax Time Guide: IRS reminds taxpayers to report gig economy income, virtual currency transactions, foreign source income and assets | Internal Revenue Service

• Gig economy earnings are taxable.
• Understand virtual currency reporting and tax requirements.
• Report Foreign Source Income.
• Reporting required for foreign accounts and assets.

irs.gov  

NTA Blog: An Overloaded IRS Stops Certain Automated Notices, But Taxpayers Still Need to File Federal Tax Returns and Pay Outstanding Taxes - TAS

OVERLOADED IRS STOPS CERTAIN AUTOMATED NOTICES, BUT TAXPAYERS STILL NEED TO FILE FEDERAL TAX RETURNS AND PAY OUTSTANDING TAXES

In the latest NTA BLOG, National Taxpayer Advocate Erin M. Collins breaks down critical information taxpayers and tax practitioners need to know about the IRS’s recent decision to suspend some automated collection notices.

“We commend the IRS for suspending automated collection notices normally issued when a taxpayer owes additional tax and when the IRS has no record of a taxpayer filing a tax return,” says Collins. “This is a big relief for millions of taxpayers who may have received these notices while still waiting for the IRS to process their returns or address correspondence. Remember that interest and penalties will continue to mount, even if the IRS is not sending subsequent notices reminding taxpayers of their balances.”

The NTA encourages taxpayers to access or establish an online account with the IRS to view current balances and make payments.

The blog also cautions that despite the IRS stopping certain collection notices case-specific enforcement work will continue. This means some taxpayers may: • Receive a Notice of Federal Tax Lien; • Receive a Notice of Intent to Levy; • Have a certain property levied; and • Have their overpayments, including refundable tax credits, offset outstanding tax liabilities. Information is also provided about how taxpayers can seek relief from levies and refund offsets. Read the full NTA Blog for more important details.

irs.gov