Forbes Reports that the IRS Flubs 57% of Back Tax Collections

8554581146_8fc5dd3348_qForbes contributor Robert W. Wood states that a recent IRS audit by the Treasury Inspector General for Tax Administration found that the IRS frequently writes off tax debts too soon. Apparently, 57% of the time, the IRS does not take all the required steps necessary before listing back taxes as uncollectible. The report asserted that approximately $1.9 billion could be collected if IRS managers ensured that all proper steps had been taken prior to listing the debts as uncollectible. If this report spurs action on the part of the IRS, you may find yourself responsible for paying back taxes that may have previously been ignored. If so, you can benefit by speaking with an experienced tax attorney.

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