Found 125 Matching Items; Displaying 31 - 40.
IRS launches new effort aimed at high-income non-filers; 125,000 cases focused on high earners, including millionaires, who failed to file tax returns with financial activity topping $100 billion
IR-2024-56, Feb. 29, 2024 — In the continuing effort to improve tax compliance and ensure fairness, the Internal Revenue Service announced a new effort today focused on high-income taxpayers who have failed to file federal income tax returns in more than 125,000 instances since 2017.
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IRS releases 2022 tax gap projections; voluntary compliance rate among taxpayers remains steady
IR-2024-262, Oct. 10, 2024 — The Internal Revenue Service today released the tax gap projections for tax year 2022, a detailed analysis showing the nation’s projected gross tax gap at $696 billion. This reflects the difference between projected ‘true’ tax liability and the amount of tax that is actually paid on time.
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St. Augustine contractor pleads guilty to failing to pay IRS payroll taxes that he withheld from employees’ pay
September 19, 2023 — United States Attorney Roger B. Handberg announces that John M. Williams (St. Augustine) has pleaded guilty to failing to account for, and pay over to the Internal Revenue Service (IRS), income taxes, Medicare taxes, and Social Security taxes (also known as payroll taxes) that had been withheld from employees’ pay. Williams faces a maximum penalty of five years in federal prison. A sentencing date has not been set.
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Understanding your CP504 notice
You received this notice because we haven't received payment of your unpaid balance. This notice is your Notice of Intent to Levy (Internal Revenue Code section 6331 (d)). If you don't pay the amount due immediately, the IRS can levy your income and bank accounts, as well as seize your property or your right to property including your state income tax refund to pay the amount you owe.
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Individuals
U.S. Department of the Treasury, IRS announce $1.3 billion recovered from high-income, high-wealth individuals under Inflation Reduction Act initiatives
IR-2024-233, Sept. 6, 2024 — Today, U.S. Secretary of the Treasury Janet L. Yellen and Commissioner of the Internal Revenue Service Danny Werfel are delivering remarks at the Austin, Texas, IRS campus to announce new milestones under Inflation Reduction Act initiatives to ensure wealthy individuals pay taxes owed, improve service for taxpayers through the Digital First Initiative and modernize foundational technology.
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Penalty relief program for Form 5500-EZ late filers
Penalty Relief Program for Form 5500-EZ Late Filers
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Administrators
People First Initiative FAQs: Past-Due Tax Returns
People First Initiative - Past-Due Tax Returns FAQ page
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401(k) plan fix-it guide - You haven't filed a Form 5500 this year
401(k) Plan Fix-It Guide - You haven't filed a Form 5500 & have you haven't distributed a Summary Annual Report to all plan participants this year.
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Administrators
Options available for U.S. taxpayers with undisclosed foreign financial assets
The implementation of FATCA and the ongoing efforts of the IRS and the Department of Justice to ensure compliance by those with U.S. tax obligations have raised awareness of U.S. tax and information reporting obligations with respect to non-U.S. investments.
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Nonresidents
Streamlined filing compliance procedures and section 965
Instructions for taxpayers who use the streamlined filing compliance procedures to file tax years which include a section 965(a) "transition tax."
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