Logan, Patti
August 2010
Journal of Tax Practice & Procedure;Aug/Sep2010, Vol. 12 Issue 4, p7
Academic Journal
The article clarifies some disconnect between the stated objectives of the U.S. Internal Revenue Service (IRS) on Notice of Federal Tax Lien (NFTL) filings, releasing versus withdrawing liens and its long-term financial impact on individual income. It outlines the Taxpayers Advocate's recommendations to IRS and the U.S. Congress on the subject. The recommendations include rescinding IRS directions to file an NFTL on a currently not collectible hardship account and require managerial approval for NFTL filings in cases where taxpayers have no assets.


Related Articles

  • Acquisitions, Dispositions & Structuring Techniques Corner. Lipton, Richard M. // Journal of Passthrough Entities;Jul/Aug2012, Vol. 15 Issue 4, p7 

    The article focuses on the imposition of penalties in the promotion of taxpayer compliance in the U.S. It examines the decisions of the courts which have enforced penalties on taxpayers who are involved in transactions although taxpayers have received independent professional advice. It mentions...

  • Does the Failure to Timely Issue Notice and Demand Impact the Underlying Assessment Rather Than the Just Liens or Levies? Fogg, Keith // Journal of Tax Practice & Procedure;Apr/May2014, Vol. 16 Issue 2, p23 

    The article discusses the impact of the U.S. Internal Revenue Service (IRS) failure to send notice and demand during the tax period in the U.S. to the underlying assessment. The federal tax lien is prevented form coming into existence and prevents the IRS from taking administrative collection...

  • Problems Linger in IRS Collection Due Process Program. Cohn, Michael // Accountingtoday.com;9/22/2015, p2 

    The article focuses on the report of the U.S. Treasury Inspector General for Tax Administration (TIGTA) on problems faced by the U.S. Internal Revenue Service's (IRS) Collection Due Process Program, which allows taxpayers to appeal a tax levy or lien, including misclassified taxpayer requests.

  • Practice. Rettig, Charles P. // Journal of Tax Practice & Procedure;Aug/Sep2014, Vol. 16 Issue 4, p11 

    The article discusses the Streamlined Filing Compliance Procedures announced by the U.S. Internal Revenue Service (IRS) to urge non-willful taxpayers to comply with their filing and reporting requirements tied to interests in foreign financial assets and accounts. Topics covered include the IRS...

  • Notice 2009-7: IRS Designates "Partnership Blocker" to Subpart F Inclusions as a New Transaction of Interest. Brock, Noel P.; Calianno, Joseph M. // Corporate Business Taxation Monthly;Jul2009, Vol. 10 Issue 10, p15 

    The article discusses the issues raised by the Subpart F income partnership blocker transaction as described in Internal Revenue Service (IRS) Notice 2009-7 in the U.S. It also describes the challenges by the IRS to the taxpayer with their possible counter arguments of such challenges. It is...

  • SB/SE: Accomplishments and Challenges. Wagner, Chris // Journal of Tax Practice & Procedure;Dec2009/Jan2010, Vol. 11 Issue 6, p19 

    The article discusses the accomplishments and challenges being faced by the Small Business (SB) and the Self-Employed (SE) Division of the U.S. Internal Revenue Service (IRS) according to SB/SE Commissioner Chris Wagner. Enforcement accomplishments include collecting taxes from delinquent...

  • Taxpayers' Reliance on Professional Tax Advice. Knight, Ray A.; Knight, Lee G. // CPA Journal;Feb2013, Vol. 83 Issue 2, p36 

    The article reports that the U.S. Internal Revenue Service (IRS) may impose an accuracy-related penalty under the Internal Revenue Code (IRC) section 6662 if taxable transactions are not reported correctly. An accuracy-related penalty in an amount equal to 20% of any portion of an underpayment...

  • IRS Watch. Dolan, Michael P. // Journal of Tax Practice & Procedure;Aug/Sep2014, Vol. 16 Issue 4, p9 

    The article discusses the critique of the U.S. General Accountability Office (GAO) on the flow-through compliance of S corporations and partnerships. Topics covered include the misreporting of flow-through information, how the Internal Revenue Service (IRS) identified partnerships as an area...

  • The Expanded Streamlined Offshore Filing Compliance Procedures. Luttati, Carol M. // Journal of Tax Practice & Procedure;Oct/Nov2014, Vol. 16 Issue 5, p9 

    The article focuses on the expanded streamlined offshore filing compliance procedures of the 2014 Offshore Voluntary Disclosure Program (OVDP) of the U.S. Internal Revenue Service. Topics discussed include the need for eligible taxpayers to demonstrate nonwillful conduct in their reporting...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics