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IRS May Have Lost Billions for Failing to Complete Research with CNC Status Taxpayers

According to a new report by the Treasury Inspector General for Tax Adminstration (TIGTA), the IRS may have failed to collect billions of dollars from delinquent taxpayers because not enough research was done before moving the client to a Currently Not Collectible Status–Unable
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IRS Voluntary Classification Settlement Program Eligibility Not Validated

TIGTA, or the U.S. Treasury Inspector General for Tax Administration, recently did an audit to determine if the IRS was validating the eligibility of certain employers in the Voluntary Classification Settlement Program (VCSP). The IRS over the last few years has stepped up its effort
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Medical Device Manufacturers Short IRS $117M in Excise Taxes

Part of the Affordable Care Act Legislation imposed an excise tax of 2.3% on the sales price for medical devices in 2013. This excise tax impacts manufacturers, producers, and importers, as they must collect the 2.3% excise tax and submit Form 270, Quarterly Federal Excise Tax Return.
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Tax-Exempt Organizations Owe $875 Million in Delinquent Payroll Taxes

TIGTA, or the Treasury Inspector General for Tax Administration recently found that about 4% (3.8%) of tax exempt organizations were delinquent in paying Federal payroll taxes. In fact, TIGTA found that over 64,000 tax exempt organizations owed over $875 million in Federal taxes since
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TIGTA Wants Amended Tax Return Process Updated, IRS Partially Agrees

The Treasury Inspector General for Tax Administration (TIGTA) issued a report today based on an audit that was completed regarding amended tax returns. TIGTA initiated the audit because it found issues with the verification of claims on amended tax returns and believes that certain ch
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