Posts Tagged ‘IRS collection’

Tax News: IRS in Need of More Employees; Expect Process to Slow Down While Workload Amps Up

Monday, July 18th, 2011

The IRS has been making huge increases in its workload of audits and taking your tax payments and they won’t be stopping anytime soon.  TRS blogged back in March about the government’s pressure to close the whopping $345 billion tax deficit which in turned caused the IRS to increase audits by 11% last year-targeting both consumers and business owners. Arden Dale’s  article Why Paying Taxes Takes Longer from  SmartMoney, examines
[Read More]

2009 Expected to Be a Record-Breaking Year for IRS Enforcement Despite Dip in 2008 Results

Tuesday, January 13th, 2009

In 2008, the IRS collected $56.4 billion – $7.7 billion more than in 2006. This was only slightly down from 2007’s record year of $59.2 Billion.
The audit rate is 100% higher today than in 2000!  Nearly 1.4 million Americans were audited in 2008, just over 1% of all returns filed.  Correspondence/ mail audits, otherwise known as CP-2000 letter audits are up nearly 34% from 2000 levels.
The 2008 collection enforcement numbers
[Read More]