08 / 25 / 11

IRS MATH ADJUSTMENTS NOT RESOLVED QUICKLY OR ACCURATELY

A new report concludes that the IRS needs to improve the timeliness and accuracy of it's response to complaints from taxpayers about math error adjustments. 

The IRS has the authority to adjust the tax returns to correct math errors.   The taxpayer then has the right to accept or deny the changes. 

The Treasury Inspector General for Tax Administration states that this causes delays that could result in the tax payer not receiving tax benefits on time or in a loss in revenue to the federal government. 

Read the full article here

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