The Internal Revenue Service – IRS plans to visits high income taxpayers, announces that it will increase visits to the high-income taxpayers in the United States who didn’t file their returns on time last year. To ensure fairness and compliance in the U.S. taxation industry, the IRS took this initiative of setting up visits to taxpayers, especially with high-income, who have failed to file one or more of their tax returns in prior years. In this effort, the IRS is hiring additional enforcement personnel to the agency that will increase face-to-face visits to high-income taxpayers who haven’t filed tax returns in 2018 or preceding years. The main purpose of IRS visits to the taxpayers is to acknowledge them about their tax obligations regarding filing & payments that can ultimately lead to their compliance in USA.
The Director of Collection Operations, Small Business / Self Employed Division at IRS, Mr. Paul Mamo shared the words regarding IRS planning to visit high income taxpayers and said,
The IRS is committed to fairness in the tax system, and we want to remind people across all income categories that they need to file their taxes. These visits focusing on high-income taxpayers will be taking place across the country. We want to ensure taxpayers know their options to get right with their taxes and avoid bigger issues later. Taxpayers having delinquent filing or payment obligations should consult a competent tax advisor before waiting to be contacted by an IRS revenue officer. It is always worthwhile to take advantage of various methods of getting back into filing or payment compliance before being personally contacted by the IRS.
The Director of Field Collection Operations, Small Business/Self Employed Division at IRS, Hank Kea, also spoke to the press and said,
These compliance visits underscore the importance of people filing their taxes this April, even if they can’t pay the full amount of tax due. Not filing because you don’t believe you can pay at the time of filing makes the problem worse, as interest and penalties mount over time. We have many payment options available on IRS.gov to help taxpayers. It’s better to work on these issues up front rather than ignoring it and ultimately getting to the point of the IRS taking more serious action. Our continued use of ever-changing technologies, coupled with additional enforcement personnel, would suggest that waiting is not a viable option for delinquent taxpayers.
Details of IRS Visit to High-Income Taxpayers:
For the new visits by IRS to the taxpayers, the agency defines the term ‘high-income taxpayer’. Those taxpayers in USA, who generally received income exceeding $100,000 during a tax year and did not file a tax return with the IRS, are considered as high-income taxpayers and the IRS is planning to visit them very soon. This initiative is in favor of those taxpayers who are somehow exercising their best practices to file & pay their tax returns on-time or paying their tax payments via installment agreements and other measures that can be taken if you can’t afford tax bill this year. Those who failed to pay their 2018 tax returns & other filing and payment obligations are soon to be caught in IRS chains of fines & penalties.
The visit sessions are specifically designed so that the IRS revenue officers can work with the taxpayer by sharing the information for the resolution of the tax issue successfully. Trained IRS civil enforcement employees will work as IRS revenue officers for gather all necessary financial information of the failed high-income tax payer. In order to become and remain compliant with the U.S. tax laws, taxpayers will be provided with the steps and procedures. The IRS revenue officers are also allowed by law for taking appropriate enforcement actions, when necessary, for the collection of amount owed. Taxpayers don’t need to worry as the visits are not scam and the IRS also ensures that the visiting officers will respect the rights of taxpayers as per law provisions.
Recently, the IRS reminded all taxpayers in the United States to must file their taxes before 15 April, 2020 for the current year. Regardless of whether the taxpayer can pay in full tax bill amount or not, it is mandatory for the taxpayers to file their 2019 tax return by the April 15 filing deadline in USA. The IRS also offers 06-months filing extensions to the taxpayers but the April deadline is not extended for paying any owed taxes. The recent and ongoing hiring of IRS revenue officers is a clear illustration of IRS efforts to make every U.S. citizen complaint. What do you think about this initiative? Let us know in the comments section & become an active reader at best tax blog of USA.