Washington (Dec. 13, 2002). A major theme of this week's meeting of the Internal Revenue Service Oversight Board was to review IRS performance in FY2002, and compare results with goals established at the beginning of the fiscal year. As part of its focus on performance, the Board reviewed several IRS programs:
- IRS Offers in Compromise (OIC) program. The Board is concerned that some aspects of this critical program intended to collect unpaid taxes may be subject to abuse by tax preparers to the detriment of taxpayers with real needs, and intends to continue to review OIC over the coming year to ensure that taxpayers’ needs are being met.
- K-1 Matching. After a recent meeting with stakeholders, the IRS is evaluating program changes. The IRS intends to resume a modified program next year incorporating changes based on stakeholder input.
- Potentially Collectible Income. The PCI program is an effort for the IRS to understand its collection inventory better so it can develop a more realistic estimate of its ability to collect unpaid taxes. This effort for the first time creates real transparency and ongoing measurement of collectibles and will allow the IRS to align resources in collections to those areas with the greatest impact.
-- Electronic Accountant Newswire staff
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