The IRS is increasingly focusing on high-income taxpayers who fail to file tax returns. A recent report by the U.S. Treasury Inspector General for Tax Administration estimated the average annual gross Tax Gap for the years 2011 through 2013 to be approximately $39 billion due to nonfilers. According to the IRS, high-income nonfilers are responsible for the majority of that amount. The IRS has pledged to do more to stem the loss of revenues.
This webinar covers the IRS's recent efforts to increase taxpayer compliance and further enforce the law as it pertains to the non-filing of tax returns by high-income earners. Taxpayers who fail to file are subject to civil and possibly even criminal penalties. Tax practitioners who represent such taxpayers should be aware of these consequences and how to avoid or mitigate them.
As co-leader of Withum's Tax Controversy practice, Marcus has extensive experience in resolving federal, state and local tax controversies including, but not limited to, matters involving Tax Examinations, Appeals, Collections, Innocent Spouse, Responsible Party, and Offer-in-Compromise.