If you have tax debt, wait for an IRS agent to visit
After the end of the pandemic, the US Internal Revenue Service (IRS) will track and come home to people with high incomes (above $ 100 thousand per year) if there is reason to suspect them of tax evasion. More about what the IRS will do, the publication told The Hill.
In February 2020, IRS officials announced that the agency will be more active in tracking individuals who earn more than $ 100 a year and have not filed their tax returns. Due to the pandemic, these plans had to be postponed, but once the pandemic subsides, the IRS will resume and intensify tracking of potential violators.
“We will find them and come to their home,” said James Robnett, deputy head of the IRS's Criminal Investigation Department. “Moreover, in the coming months, we will be knocking on their doors to make sure they comply with our requirements.”
Earlier this year, the Inspector General of the Internal Revenue Service released a report that stated that about 880 high-income individuals did not file their tax returns for the 000-2014 tax years. The total amount of unpaid taxes was $ 2016 billion.
Last year, the IRS identified about 9 million people who did not file their tax returns. The agency initially contacts non-payers before taking more drastic measures, such as initiating a criminal case.
The penalties will be much lower if tax delayers voluntarily file their tax returns before the IRS contacts them. Late payment penalties are less than penalties charged for non-submission of tax returns.
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Robnett said the IRS has launched nearly 300 investigations into people who failed to file their tax returns in FY2020, of which 146 are recommended to go to court. Of these, 96 were indicted and 80 received sentences - an average of 36 months in prison.
The IRS's efforts to address non-filing individuals are due to the fact that the IRS filed more criminal cases in FY2020 than before. In FY2020, 2 criminal cases were filed for various reasons, the first year of growth after six years of decline.
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