2016 Changes in IRS Collection Practices

Accounting Today notes the following significant changes in the way IRS collects taxes: PRIVATE COLLECTORS. IRS is starting to use a group of four private debt collectors (CBE Group, Conserve, Performat and Pioneer) to collect any tax accounts that the IRS is no longer chasing. In light of the serious problems that IRS has with […]


What are the chances of being audited?  IRS examined 0.6% of all tax returns filed in calendar year 2015, about 0.7% of all individual tax returns were audited and 1.1% of corporate returns.  The likelihood of audit increases as AGI (Adjusted Gross Income) increases.  Thirty-seven percent of the individual audits were triggered by earned income […]