IRS Collection Also Targets High-Income Americans
IRS Collection Also Targets High-Income Americans
The IRS has both an Examination Division – tasked with imposing additional taxes on Americans – and a Collection Division – tasked with collecting taxes that Americans owe. The IRS’s recently-announced enforcement initiatives targeting high-income Americans utilized both of its enforcement divisions. While Examination has increased audits of high-income Americans, the Collection Division has similarly targeted such individuals. The IRS identified 1,600 taxpayers earning more than $1 million per year who had outstanding tax liabilities of more than $250,000. The Collection Division’s expert tax collectors are revenue officers. The IRS directed its revenue officers to aggressively pursue the first 900 of those 1,600 individuals. The IRS has loudly touted its recovery of almost $500 million from the first 900 millionaire tax debtors. Based on the press that the IRS has been receiving from these initiatives, they may continue for some time.
#kimandrosadollp #taxlawyer #tax #IRS #IRScollection
Видео IRS Collection Also Targets High-Income Americans канала Kim & Rosado LLP
The IRS has both an Examination Division – tasked with imposing additional taxes on Americans – and a Collection Division – tasked with collecting taxes that Americans owe. The IRS’s recently-announced enforcement initiatives targeting high-income Americans utilized both of its enforcement divisions. While Examination has increased audits of high-income Americans, the Collection Division has similarly targeted such individuals. The IRS identified 1,600 taxpayers earning more than $1 million per year who had outstanding tax liabilities of more than $250,000. The Collection Division’s expert tax collectors are revenue officers. The IRS directed its revenue officers to aggressively pursue the first 900 of those 1,600 individuals. The IRS has loudly touted its recovery of almost $500 million from the first 900 millionaire tax debtors. Based on the press that the IRS has been receiving from these initiatives, they may continue for some time.
#kimandrosadollp #taxlawyer #tax #IRS #IRScollection
Видео IRS Collection Also Targets High-Income Americans канала Kim & Rosado LLP
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6 марта 2024 г. 20:19:08
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