HERMANN MISSOURI OKTOBERFEST 2010

HERMANN MISSOURI OKTOBERFEST 2010
HERMANN MISSOURI OKTOBERFEST 2010 - CLICK ON PHOTO FOR THIS YEARS SCHEDULE OF EVENTS

Hermann Missouri 175 Year Anniversary 1836-2011

Hermann Missouri 175 Year Anniversary 1836-2011
Hermann Missouri 175 Year Anniversary 1836-2011

Search This Blog

Breaking News Videos (mouse-over click-to-open)

Wall Street Protest Live Stream

News Archive

Weather Radar - Interactive - Zoom-in to Your Location

Donate To Keep This Site Alive

Thursday, February 24, 2011

IRS Starts New Eased Guidelines on Delinquent Taxpayers

_________________________________________________________________________

IRS eases up on delinquent taxpayers

BY JIM GALLAGHER   
St. Louis Post-Dispatch
February 24, 2011 
_________________________________________________________________________

America's chief tax man was in nice-guy mode today, promising to loosen the screws on delinguent taxpayers.
IRS Commissioner Doug Shulman said the IRS will let taxpayers run up bigger tax bills before filing tax liens against their property.  More taxpayers will also be eligible for a the IRS "offers in compromise" program, in which the IRS sometimes settles for less than the taxpayer owes.
"I always encourage employees of the IRS to try to walk in the taxpayers' shoes," Schulman told reporters in a teleconference today.  He said the changes will help taxpayers get a "fresh start."
Under the new guidelines, the IRS will usually not file tax liens until delinquent debt tops $10,000, up from $5,000 presently.
The tax collectors will also generally withdraw liens when taxpayers agree to a direct-debit intallment agreement with debts of $25,000 or less.  
A tax lien is a government claim against the taxpayer's property.  It can effect credit reports, hurting a taxpayer's ability to obtain loans and find jobs.
Taxpayers with incomes up to $100,000 will be allowed to submit offers in compromise.  The program will admit people who owe up to $50,000, up from the current $25,000 limit.
The IRS sometimes agrees to settle for lesser payments "once we determine that you can't pay now and there is no prospect of you paying it in the future," Shulman said.
Small businesses owing $25,000 or less can enter into installment payment agreements, up from the previous $10,000 limit.
Shulman said the changes will probably make no difference in the amount of taxes the government collects but might increase collections.

__________________________________________________________________________ __________________________________________________________________________

Reciprocal links:
http://HermannHearsay.blogspot.com/(Hermann Area News, Commentary & Discussion)

No comments:

Post a Comment

Area Gas Prices Hermann and New Haven

HERMANN MISSOURI WEATHER 65041

Enter Your Locaton (below map) for Interactive Current Radar Map

Donate To Keep This Site Alive

NEWS

World News

Business News

...........

Top Ten Viewed Stories / Last 7 Days

Donate To Keep This Site Alive

.........

Hermann MO News TOP 10 Stories/ Last 30 Days

Donate To Keep This Site Alive

Top 10 Stories - All-Time (Oct. 14,2010 Inception)

Donate To Keep This Site Alive