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IRS May Expand Holds on Tax Refunds for Delinquent Taxpayers
Zone(s): USA ¦ Sector(s): Tax
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.