Business Services Industry
IRS will stop hounding taxpayers making installment payments.
Kiplinger Tax Letter, The, June, 1998
IRS will stop hounding taxpayers paying back taxes by installment. Some IRS employees had been threatening to end the installment agreements unless the debtor agreed to extend the ten-year statute of limitations. After ten years, IRS could no longer go to court to enforce collection.
Threats were made as ten years neared and debts were still owed. Didn't matter that payments had been timely till then. IRS is apologizing to 20,000 or so taxpayers who were bludgeoned into signing an extension... and letting them know their rights, including refunds that might be due.
But IRS won't stop voluntary filings of 1099s on deadbeats. Creditors generally aren't required to report canceled debts on 1099s. Some business groups have advocated such filings to...
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