President Obama has decided to give the IRS an extra $1.1 billion in the 2012 budget to create an additional 5,000 jobs for the IRS to go after tax delinquents.
According to a recent Bloomberg article, this increase in the budget to $13.3 billion will allow the IRS to focus on fighting tax evasion and to seek out fraudulent tax preparers.
Furthermore, almost half of the increase ($460 million) would support the agency’s tax-enforcement programs which would sniff out the use of offshore bank accounts and cheating by corporate and high-wealth taxpayers. It also would seek out fraudulent tax preparers within the U.S. borders.
According to the article, “These enforcement efforts would yield $1.3 billion in additional revenue in two years…Obama’s budget also proposes other compliance initiatives that it estimates would generate $56 billion over the next decade.”
So what does this mean for you as the consumer? Time to buckle down and get all your tax documents ready now instead of right before the April 18th deadline this year. Don’t wait till the last minute to realize that you are not going to make your tax bill.
If you owe the IRS more than $20,000, you need to get in touch with a well-qualified tax attorney or tax resolution firm now before the IRS comes after you. When you play the waiting game with the IRS, they always win. I’ve come across too many consumers who mistakenly believed that if they stay low on the radar that the IRS will “forget” about them. This is simply not true–especially with all these new IRS agents the IRS is hiring.
More Tax Help, IRS News and Tax Relief Tips:
- Tax Help: How to Resolve Your Back Taxes & Prevent Tax Problems If You’re Short on Cash This Season
- Need Tax Help? Glenn Beck Nationally Endorses Tax Resolution Services For Your IRS Problems
- IRS Relief News: What Americans With Back Taxes Need to Know About Reaching Out to the IRS for Tax Help
- 9 Tax Help Tips For Taxpayers Who Owe Back Taxes to Uncle Sam
- National Tax Relief Expert Michael Rozbruch Kicks Off Tax Day Countdown on Big Biz Show
Tags: bloomberg, budget 2012, certified tax resolution specialist, Free Tax Consultation, IRS budget 2012, IRS help, Michael Rozbruch, obama, offshore bank accounts, offshore tax evasion, tax attorney, tax relief, Tax Tips