You are not alone, if this has happened to you call us today and find out your options,we are A plus rated by the BBB, Since 1982.
IRS catches these errors on the underreporter system that matches up third party info.
Former IRS Agents who know the system, Since 1982.
Highlights of the Data 2016 You are not alone! Lets look at the factss.
• In Fiscal Year (FY) 2016, the IRS received almost 3.0 billion third- party information returns; 88.3 percent were filed electronically
• The IRS closed almost 3.5 million cases under the Automated Underreporter Program, resulting in nearly $6.8 billion in additional assessments
• The IRS closed 389,000 cases under its Automated Substitute for Return Program, resulting in $542.8 million in additional assessments
• For Tax Year (TY) 2015 individual income tax returns processed during FY 2016, IRS sent more than 1.6 million notices to taxpayers for 2.1 million math errors identified on
• For TY 2015, math errors associated with calculation of income or other taxes made up 36.2 percent of total math errors.
For TY 2014 and prior-year returns processed in FY 2016, misreporting the number and amount of exemptions were the most common errors, making up 25.5 percent of the total.
Anytime you help with the IRS call true tax professional today!View all posts by Michael Sullivan → ← Offer in Compromise Can Reduce Your Tax Debt + Former IRS Compromise Specialists = Florida Hobby Losses, What You Need to Know + IRS Audit Factors + Former IRS Agent →