Tax debts

The Internal Revenue Service cautioned taxpayers to steer clear of promoters who claim their services are needed to handle unpaid debts, saying such businesses often charge excessive fees and often produce no results.

Tax pros and taxpayers should be aware that the IRS is restarting its "collection notice stream."

The city's department of finance audited Signature after the bank shuttered in March and found tax deficiencies for years 2015 through 2021 related to unreported income allocation and adjustments to investment and capital income.

The city cites corporation business tax "deficiencies" for 2017 through 2021 and is also seeking interest and penalties from the failed bank.

Deploying 1,400 tax collectors — touted by the government as "paramilitary trained" in order to discourage resistance — is the most aggressive in a long line of controversial steps to nearly double the government's revenue collection to a quarter of gross domestic product by 2030.

The Internal Revenue Service wants to update the regulations governing the sale of a taxpayer's property taken during a levy.

The NAEA is asking the service to resume sending reminder notices immediately to non-filers and those with balances due of more than $10,000.

The service is stopping most unannounced visits to taxpayers' residences and businesses after a rising number of threats has put its employees' safety at risk.

The store faces lawsuits from customers for alleged failure to deliver prepaid wine, is delinquent on $2.8 million in taxes, and reportedly could be evicted from its midtown home.

The Internal Revenue Service has been sending out erroneous balance due notices demanding taxpayers in federal disaster areas pay up, even though they're supposed to get extra time.

The service's alternative dispute resolution programs can be faster and cheaper than the usual appeals process, but their use fell by two-thirds over the past decade.

The service had paused the notices last year while it tried to catch up on its backlog of unprocessed tax returns.

The IRS notified the pharmaceutical giant that it owed $3.6 billion for the 2010-2012, and demanded $5.1 billion more for 2013-2015.

The use of private agencies spiked in 2021 and yet, despite this, they collected only 2.78% of total delinquent tax accounts assigned to them by the IRS.

A system that Congress mandated allowing federal contractors to self-certify they don't owe a significant amount of taxes is enabling many of them to score lucrative contracts while still owing plenty.

The company said it reached the settlement for the tax years of 2007 through 2016 without any penalties, but did not disclose how much it actually paid to the government.

Collection employees are mostly respecting the restrictions, but don't always understand their complexities.

Draft of the new 1040; the rich get caught, too; how to speak accounting; and other highlights from our favorite tax bloggers.

The service admitted that some married taxpayers received erroneous notices for 2021 tax returns.

The Internal Revenue Service, facing criticism over long hold times and disconnects when taxpayers try to reach its offices, is adding more options for callers to reach automated voice bots that can respond to their requests sooner.