The Internal Revenue Service has shelved hundreds of balance-due accounts for taxpayers who owe more than $1 million.
A new report from the Treasury Inspector General of Tax Administration found that as of Dec. 22, 2007, there were 2,454 individual taxpayers in the IRS’s potentially collectible inventory each owing over $1 million in taxes, interest and penalties. The IRS was actively pursuing 2,006 of the delinquent taxpayers for collection, but TIGTA identified 448 accounts totaling approximately $1.2 billion that were in a queue awaiting field assignment or had been shelved.
Link to article:
http://www.webcpa.com/news/IRS-Overlooks-Hundreds-Big-Overdue-Accounts-51011-1.html?ET=webcpa:e362:130272a:&st=email
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[...] Original post by Al Walsh [...]
[...] Original post by Al Walsh [...]