IRS may come knocking for wealthy who failed to file tax returns

IRS may come knocking for wealthy who failed to file tax returns


The IRS is taking to the streets to track down high-income earners who aren’t filing federal income tax returns or paying taxes.

A new step in an ongoing effort involves making roughly 800 face-to-face visits in the next two months to high-income individuals who haven’t filed tax returns in 2018 or previous years. The IRS estimates that billions are being lost in tax dollars, thanks to high-income non-filers. Thousands of other visits across the country are expected throughout the year.

The goal is to engage with delinquent, non-filers who have not responded to multiple IRS notices. The move would be before the IRS would place a legal claim against property to secure payment of a tax debt.

The unscheduled, unannounced visits are reportedly across the country and not focused on any specific geographic area.

Those being targeted are reported to have annual incomes in excess of $100,000 during a tax year and did not file a tax return with the IRS. Those who would get a face-to-face visit also have avoided earlier correspondence from the IRS to straighten out the delinquency. The taxpayer may have failed to file one or more of their tax returns.


Source link

Categorized as Business

By Bernice Caldwell

Bernice is one of the finest authors Industry News Today portal has until now. Bernice's linguistic and well-written technique is one of the plus points that have the readers glued to her articles. Bernice currently heads the Healthcare and Services domain as her knowledge on the medical topics is immense. She has just joined the Industry News Today portal 6 Months back but the love for writing can be very well seen. She may be short on experience but it has definitely not stopped her from presenting some of the finest articles. Bernice is currently a very well-known personality on the portal to have shown her skillful writing in such a limited time span.

Leave a comment

Your email address will not be published.