The Taxpayer Bill of Rights outlines fundamental rights every Taxpayer has in IRS matters. It codifies a Taxpayer’s right to challenge an IRS and be heard.
Our latest episode of our podcast, Talkin’ Tax, went in depth of the difference between Liens and Levies.
A lien is a legal claim against a Taxpayer’s property to secure payment of the tax debt. Meanwhile, a levy is a legal seizure of a Taxpayer’s property to satisfy a tax debt. If you want to learn more about the difference, check out our Lien vs. Levy podcast episode at https://fb.watch/7vBm9_4-P0/
The Internal Revenue Service announced on June 1, 2021 that it is currently accepting applications for the Internal Revenue Service Advisory Council (IRSAC) for terms that will begin in January 2022. Applications will be accepted through July 9, 2021. IRSAC members are appointed to three-year terms by the IRS commissioner. They also submit a report to the commissioner annually at a public meeting.
The aggressive compliance landscape started several years ago and slowed down due to Covid-19. However, in recent months tax practitioners are seeing an increase in compliance efforts and controversies throughout the world. It started in January 2017 when the IRS began a new approach to examination where they were targeting campaign issues that they think have potential for noncompliance. For example, the IRS began to target Code Section 965 which affects a lot of taxpayers. They also have the high-wealth initiative, which targets very wealthy individuals not only around the US, but around the world.