At a recent meeting of government officials and stakeholders, officials from the Internal Revenue Service offered updates on the Office of Promoter Investigations, the Fraud Enforcement Office, Forms 940X and 941, and the introduction of several new office directors. National Conference of CPA Practitioners tax chair Stephen Mankowski shared highlights: Notices, liens and levies
Andrew Harrer/Bloomberg The IRS began sending out letters from the Automated Collection System function in June, and restarted the income tax levy program in July. In addition, responsible officers continue to work on nonfiler cases and are sending out notices and billing notices; however, their focus is primarily on egregious cases, such as high-income non-filers, according to Mankowski.
Malta-US tax scheme added to the Dirty Dozen scam list
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IRS wraps up its 2021 Dirty Dozen scams list with warning about promoted abusive arrangements
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In his April 28, 2021 address, President Biden asked Congress to provide $80 billion of extra funding for the Internal Revenue Service (“IRS”) over the next decade.
1 While the timing and amount of any additional funding are uncertain, there appears to be general agreement that increased funding of IRS enforcement efforts is critical to reverse the steady decline of audits, criminal investigations and prosecutions over the last decade.
2 The IRS is not waiting for additional funds to ramp up its fraud and criminal enforcement activities, however, having recently established new units focused on these efforts.