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April 18, 2012

Posted April 19, 2012

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IRS Slow On Offers In Compromise
The IRS is taking longer to respond to offers in compromise (OICs) due to a substantial increase in the number of offers submitted by taxpayers, according to a report released by the Treasury Inspector General for Tax Administration (TIGTA).

Board Recommends $13.03 Billion for IRS Budget
The IRS Oversight Board has recommended that the IRS have a budget of $13.03 billion for fiscal year 2013. This represents a $1.22 billion increase over the 2012 budget of $11.81 billion, and a $273 million increase over the president's recommendation of $12.76 billion.

IRS Explains "Additions To Tax"
The IRS recently described a taxpayer's liability for "additions to tax" under Code Sections 6651(a)(2) and 6651(a)(3). Both taxes apply to a failure to pay tax, but they apply in different situations.