National Taxpayer Advocate Erin Collins expressed concern Wednesday in a midyear report to Congress about continuing delays by the Internal Revenue Service in processing tax returns filed on paper last year, pointing to far higher numbers than the IRS itself claimed just a day ago. Collins said that at the end of May, the agency had a […]
If you’re on the receiving end of an inheritance, odds are the money is coming to you out of the deceased’s retirement account. And you may be asked — or sometimes told — to set up an Inherited IRA. Inherited IRAs (investment retirement accounts) are accounts a person sets up with the funds bequeathed to […]
Internal Revenue Service Commissioner Charles Rettig told lawmakers the IRS has been working hard this past filing season during a congressional hearing Thursday as he heard first-hand testimony from their constituents about the problems they encountered. “IRS employees want to do more to help taxpayers,” he said in his opening statement. “We want to be […]
The Internal Revenue Service mainly uses lien foreclosures when it’s going after the primary residences of people with overdue tax debts, but taxpayers don’t get the same legal protections as they would enjoy under the seizure process, according to a new report. The report, released last week by the Treasury Inspector General for Tax Administration, […]
Internal Revenue Service Commissioner Charles Rettig pledged to do more to improve taxpayer service after Congress approved a $675 million funding increase. “Taxpayer service remains the most significant IRS priority, and we have implemented many new, innovative strategies in an effort to improve our overall level of service and processing of our unprecedented current and […]
