An article this week on TheHill.com reported that for 2013, the IRS gave up more than $16 billion in uncollected tax revenue according to a new federal report. That means for every five delinquent accounts, IRS agents only closed three of them.
The article also states that the manner in which IRS agents attempted to retrieve delinquent taxes, describing their process as “contacting taxpayers through the mail, then trying to encourage payment through phone calls, to eventually placing liens or taking a taxpayer’s property.”
With all that money left unaccounted for, it can be frustrating come April to see in bold print the total amount of taxes you owe of your hard-earned money while the IRS literally leaves billions uncollected. And while it seems it’s always the few who disregard the law that make it harder for the rest of us, it might not be on purpose. An article in the 2013 March TIME magazine states that unreported taxes are just as much a mistake as they are on purpose. Individuals do not always intend to under report their earnings. It can easily be a mistake. The article also adds that oftentimes the amount underreported is less than the value of what it would cost the IRS to go after it. But all those dollar bills add up and if a mistake is caught, it might not cost you billions, but it can cost you a lot of money and headache when trying to rectify an honest mistake.
That’s where tax law professionals like us come in to help you navigate the complicated and sometimes scary waters when dealing with the IRS. And when you are faced with an audit or approached by an IRS agent, you need to have a tax lawyer on your team. We know the ins and outs of all the tricks so you don’t have to. Call us today at 844-841-9857, we can help!