IRS Announces Increased Focus on High-Income Earners
The Internal Revenue Service (IRS) recently announced plans to increase visits to a certain group of taxpayers. The agency’s focus includes those who meet the following criteria: 1) earnings of over $100,000 annually, and 2) failure to file income tax returns.
When will the agency begin to implement this new focus?
According to a recent report in The Hill, the IRS will start to conduct these field visits in February and March of this year. As a result, some taxpayers may already have received a visit from an IRS agent.
How many visits will the IRS plan to make?
At this time, the agency has stated it plans to make about 800 visits during the “initial phase” of the operation. Additional future visits are likely.
What should I do if I get a visit from an IRS agent?
It is important to take the matter seriously. These federal agents can make unannounced visits to an individual within their residence or to a business. It is also important to note that scams are not uncommon. Reduce the risk of becoming a victim of a scam by asking for identification if you get a visit from an individual or individuals claiming to be from the IRS. The agents should present two separate forms of identification, each with a photo and serial number. If the visit seems questionable, it may be wise to call the police.
If the visit is legitimate, it may be wise to seek legal counsel. An attorney can review your tax situation and discuss options to come into compliance with tax law. This can include options that can help make outstanding tax payments more manageable.