Internal Revenue Service To

Agency Offers To Waive Penalties, Negotiate New Payment Plans And Postpone Asset Siezures To Delinquent Taxpayers

As the nation sinks deeper into recession, the IRS is offering to waive late penalties, negotiate new payment plans and postpone asset seizures for delinquent taxpayers who are financially strapped, but make a good-faith effort to settle their tax debts.

IRS Commissioner Doug Shulman said Tuesday that tax agents are being given new authority to work with victims of the nation's economic woes who are struggling to pay their bills.

"We need to recognize that it's an extraordinary, challenging time," Shulman said in an interview. "We need to understand the taxpayers' perspective. We need to walk a mile in their shoes."

It's unrealistic to expect some taxpayers to make timely payments in this economy, Shulman said. However, he cautioned that those seeking help will have to demonstrate their inability to pay. Those who fail to file tax returns, or who simply ignore collection notices, will not be eligible for help, he said.
Read Article...

IRS Taxes Government Money Internal Revenue Service