The IRS's Fast Track Settlement program has been highly successful at resolving tax disputes that arise as the result of an audit. In that program, a mediator from the IRS's appeals division facilitates the resolution of the dispute in a process where all stakeholders are represented. The mediator has the authority of the appeals division, so any resolution can be put into place right away. This reduces the time the taxpayer spends wrangling with the IRS.
There are certain frustrating things a taxpayer could encounter in their efforts to resolve a tax debt. Among these are Internal Revenue Service processing problems and delays in relation to a resolution option they are pursuing.
Tax evasion allegations could come up in relation to a range of different things. This includes certain uses of virtual currencies (like bitcoin). There are concerns that certain aspects of virtual currencies, like the fact that transactions involving this new type of currency tend to involve anonymous parties, could create avenues for illegal tax avoidance. One wonders if a recent report will end up leading to big changes in Internal Revenue Service enforcement and compliance efforts regarding virtual currencies.
When a person is in their retirement years, certain things can have big impacts. One of these is what actions they take when it comes to their retirement accounts. Among the implications such conduct can end up having are tax implications.