admin
09-24-2007, 07:20 PM
"A study released today by the Government Accountability Office stated that the IRS may have missed out on $38 million to $61 million in civil tax penalties from taxpayers from 2000 to 2005. That’s because current IRS penalties don’t take into account inflation and are set at specific amounts. The GAO report urged Congress to require the IRS to adjust fines for inflation. IRS officials told the GAO that adjusting its penalties would be initially burdensome for its small office of penalties, but that subsequent updates would ease the adjustment process."
For more information:
http://www.financialweek.com/apps/pbcs.dll/article?AID=/20070924/REG/70924008/1036
For more information:
http://www.financialweek.com/apps/pbcs.dll/article?AID=/20070924/REG/70924008/1036