CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. IRS Improves Compliance With Asset Forfeiture Procedure

IRS Improves Compliance With Asset Forfeiture Procedure

by Mike Godfrey, Tax-News.com, Washington

21 September 2016


The US Internal Revenue Service (IRS) has improved its compliance with a legal requirement to notify taxpayers prior to issuing levies, according to an annual audit conducted by the Treasury Inspector General for Tax Administration (TIGTA).

When taxpayers do not pay overdue taxes, the IRS has the authority to work directly with financial institutions and other third parties to seize, or "levy," taxpayers' assets.

However, the US tax code also requires the IRS to notify taxpayers at least 30 calendar days prior to the issuance of a levy, and allows taxpayers the opportunity to request a Collection Due Process hearing prior to the first levy on a delinquent account.

During its annual statutory review of the IRS's adherence to these notice and hearing requirements, TIGTA found that the agency's Office of Appeals had "made improvements in the overall compliance in the Collection Due Process Program."

However, TIGTA also "identified similar deficiencies in the IRS's processing of Collection Due Process cases as previously reported." For example, TIGTA continued to identify errors related to the determination of the Collection Statute Expiration Date on taxpayer accounts.

TAGS: compliance | tax | tax compliance | law | Internal Revenue Service (IRS) | tax authority | United States | regulation | Compliance | Tax

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »