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IRS May Expand Holds on Tax Refunds for Delinquent Taxpayers

Zone(s): USA ¦ Sector(s): Tax
[3 June 2014, Accountingtoday.Com]  By Michael Cohn, Editor-In-Chief, Accountingtoday.Com, Washington, D.C.: The Internal Revenue Service is considering expanding a program under which it delays tax refunds for up to six months for delinquent taxpayers.

A new report released Tuesday by the US Treasury Inspector General for Tax Administration noted that the IRS has the authority to delay issuing income tax refunds for up to six months while it investigates tax return delinquencies from other tax years. Holding the tax refund encourages taxpayers to resolve their delinquent filing obligations earlier, the report noted.

Read more:
www.accountingtoday.com/news/irs_watch/irs-may-expand-holds-on-tax-refunds-for-delinquent-taxpayers-70870-1.html