IRS unable to locate millions of tax records, watchdog says

United States News News

IRS unable to locate millions of tax records, watchdog says
United States Latest News,United States Headlines
  • 📰 politico
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 59%

The agency said underfunding forced it to redirect employees responsible for inventories to other jobs.

The IRS watchdog said that agency personnel have not been doing required annual inventories of the microfilm cartridges and urged the IRS to better restrict access to the tax records.

TIGTA noted that this may be because the vendor responsible for creating the cartridges went out of business abruptly in 2018. The IRS has come under fire before by Republicans for improper handling of taxpayer information, such as its destruction of 30 million paper tax returns in March of 2021 during the height of the pandemic that subsequently caused an outcry from the tax community.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

politico /  🏆 381. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Why Should We Have To Pay Somebody To Help Us File A Tax Return?Why Should We Have To Pay Somebody To Help Us File A Tax Return?A paltry 3.3 million filers used the agency’s Free File system, the troubled joint IRS-industry effort to create a no-cost way to prepare a return.
Read more »

Used Tesla Model 3 Now Eligible For The $4,000 Used Vehicle Tax Credit!Used Tesla Model 3 Now Eligible For The $4,000 Used Vehicle Tax Credit!Tesla used vehicles under $25,000 are now eligible for the $4,000 Tax Credit in the US for those that qualify! Your income has to be 'just right' to get the full credit. Check the IRS website for more details.
Read more »

Americans are pulling from their 401(k) at dramatic rateAmericans are pulling from their 401(k) at dramatic rate'The number of participants taking hardship distributions increased 36 percent year-over-year,' the report said. August 7, 2023 According to Investopedia, a hardship withdrawal from a 401(k) plan is used for an 'immediate and heavy financial need.' 'It is an authorized withdrawal—meaning the IRS can waive penalties—but it does not relieve you of your tax responsibilities,' Investopedia states.
Read more »

Watchdog: Behind the scenes on the new Texas property tax law and your future savingsWatchdog: Behind the scenes on the new Texas property tax law and your future savingsAn inside look at how Texas lawmakers passed the biggest property tax reduction in U.S. history. Find out how much you can save and when the savings go into effect. Learn if seniors and disabled persons with frozen school taxes will also benefit from the new law. Spread the word that property tax cuts will take effect this year, resulting in significant drops in bills due on Jan. 31.
Read more »

The Band Camino Dug Deep on Their Sophomore Album ‘The Dark’ in Order to GrowThe Band Camino Dug Deep on Their Sophomore Album ‘The Dark’ in Order to GrowThe band’s sophomore album The Dark is out August 11 via DBLBLK Records/Elektra Records.
Read more »

Woman Who Went Viral Over 'Not Real' Airplane Meltdown Speaks OutWoman Who Went Viral Over 'Not Real' Airplane Meltdown Speaks Out'My life has been blown up,' Tiffany Gomas says in her first comments since her airplane incident reached millions on TikTok (via toofab)
Read more »



Render Time: 2025-02-24 13:37:47