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Wilmington NC Tax Preparer comments on IRS Oversight

Preparer and CPA in Wilmington NC discusses TIGTA oversight of the IRS

A Tax Preparer and CPA in Wilmington NC discusses TIGTA oversight of the IRS

I’ve commented before on the taxpayer protection side of the IRS in my previous postings: Installment Agreements and Tax Preparers.  TIGTA (US Treasury Inspector for Tax Administration) is the IRS oversight organization. Their priorities are:

  • Protect IRS employees from external threats.
  • Protect the integrity of the IRS.
  • Detect and prevent fraud and abuse.
  • Investigate allegations of IRS employee misconduct.

As a CPA in Wilmington NC, I have heard spontaneous threats against the IRS, in general, from clients as they blow off steam.  But as we’ll see in the list below, sometimes individual agents are threatened and TIGTA deals with these issues.   They also investigated and prosecuted a local Wilmington NC  bookkeeper who falsified IRS documentation to manufacture non-existent IRS issues she then charged clients to resolve. Tax preparer fraud takes many forms however and the IRS is ever vigilant about protecting taxpayers against them.

Her’s a list of TIGTA investigation highlights as shown on their website.

“I think the list below might be mis-leading.  Employee fraud often goes unreported in private companies. The IRS is just more open about their internal problems.” 
Gary Bode, CPA 
Wilmington NC Accountant and Tax Preparer

I think we’ll see lots of scamming on the Homebuyer’s Credit with TIGTA doing the legwork.

As a CPA in Wilmington NC, my perception is that folks see the IRS as a heartless agency with unlimited power.  Which is inevitable with any tax agency.  But they have made real progress in becoming more user friendly.  As a Wilmington NC Tax Preparer, I’ve only seen them get brutal after the tax payer repeatedly provoked them. 

As an example of IRS good intentions, here’s a true story.  A recent client got a nasty notice from the IRS.  He hadn’t reported a 1099-C on his tax return.  A 1099-C reports cancellation of debt to the IRS.  Debt cancellation in this case was forgiveness of a car loan by a major Wilmington NC bank after they re-possessed the car. Cancelled debt can become taxable income.  Why didn’t my client report it?  Because he never got it.  Credit card companies and lendors sometimes pull this dirty trick as revenge: they send the 1099-C to the IRS but not the client.  If you’re your own tax preparer, how would you know cancellation of debt is taxable?  Now the client frantically calls the IRS three times.  All three times the IRS agents readily acknowle taxpayers often don’t receive a copy of the 1099-C.  All three times they review his return and find areas where he did not take legitinate tax deductions.  All three times the agents recommende him getting a CPA to amend the return to include the 1099-C and these legitimate deductions he didn’t originally claim. One agent even mentioned how the penalties could be abated.

If you need a free initial consult from an experienced CPA and tax preparer, call us at (910) 399-2705.

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