Did you know?
- The Internal Revenue Service has just received a fresh influx of billions of dollars in funding for advancements in technology to identify and process actions against non-filing and late-paying taxpayers.
- IRS taxpayer notices are triggered by many things, including these hot-button issues
- Failure to file
- Failure to pay
- Mismatches among 1099s, W-2s, and numbers on the returns
- Reporting round numbers
- Charitable contributions, hobby losses, and other sensitive areas
- Mismatches among foreign disclosures and unfiled forms
- Social media and other online comments
Before the pandemic, there were more than 15 million accounts in collection with the IRS and 10 million non-filers. The Tax Practice Advisor reported that 1 in 3 taxpayers were unable to pay their 2019 taxes on time. You can only imagine that these numbers are skyrocketing post-pandemic due to the well-documented struggle people are having with healthcare bills and long stretches of unemployment, not to mention other disasters like fires and hurricanes.
If you know of anyone who falls under the above listed circumstances. Or anyone who has been receiving notices with outstanding tax liabilities, please have them reach out to us at The Morrow Group Inc and we can represent them in all aspects of this process.