TheCPATaxProblemSolver Taxpayer Tribune Issue 58  May 21 2022

Employers should choose their third-party payroll service provider wisely to prevent fraud | Internal Revenue Service

When hiring a company to handle payroll and payroll tax, it’s important for businesses to choose wisely. This can help a business avoid missed deposits for employment taxes and other unpaid bills.

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.

The Taxpayer Advocate Service invites you to share this vital tax information with your audience.

irs.gov  

Registration is now open for the 2022 IRS Nationwide Tax Forum | Internal Revenue Service

Tax professionals who want to keep up with changing trends and tax law should register for the 2022 IRS Nationwide Tax Forum.

irs.gov  

IRS audit rates decreased most for wealthy, GAO finds

In a study, the US Government Accountability Office finds that the IRS’s individual tax audit rates decreased by 72% during 2010–2019, and by a greater percentage for higher-income taxpayers than for lower-income ones.

journalofaccountancy.com  

Leading House Democrat Bill Pascrell demands Biden replace IRS chief over tax document destruction 'scandal'

IRS boss Charles Rettig is under fire over the destruction of data related to millions of tax returns. President Joe Biden is being asked to replace him.

cnbc.com