News
May 17, 2016
The IRS sent tax lien notices to the wrong addresses for taxpayers even though the agency had the correct addresses in its system, according to a July report by the U.S. Treasury Inspector General for Tax Administration (TIGTA). Though the agency re-sent the notices, the incorrect mailings were potentially illegal because the IRS is required by statute to notify taxpayers at their last known address within five days of filing Form 668(Y)(c), Notice of Federal Tax Lien. IRS...
May 17, 2016
Criticism of the IRS’s cybersecurity loopholes and breaches is endless, so a recent report by the US Government Accountability Office (GAO) finding the agency’s Taxpayer Protection Program (TPP) problematic isn’t exactly a big surprise. The TPP is intended to identify possibly bogus tax return filers and prevent fraud. But the bad guys are still able to get through and claim fraudulent refunds despite the IRS’s best efforts to bolster the program, the GAO found.
May 17, 2016
During his most recent televised rant, Bill O'Reilly said a huge scandal can potentially explode within the Justice Department. He added that many Americans are confident that the intervention was in during investigations into the IRS' targeting of republican groups and Hillary Clinton's private email server. O'Reilly noted that former IRS employee Lois Herner was never held legally accountable for allegedly making right-wing groups his target for thorough audits, and Attorney General Eric Holder is told to refuse to...
May 17, 2016
The income inequality and its slow but steady progress since the years following the Great Recession are often mentioned alongside the Tax Code issues. Social mobility, the amount that a typical American moves up or down the economic ladder from where their parents and grandparents previously were, has gained traction and became by now a major focus of socio-political debate, academic research and popular outrage, especially in the wake of...