IRS Posts Notice on Foreign Tax Guidelines, Says It Plans to Release More Information A…
Big changes could be in store for the IRS if a legislative package that is currently receiving bipartisan support passes through Congress.
Over the past year and a half, lawmakers have sought information from the American Institute of CPAs, the National Association of Tax Professionals, and other interested parties about what changes needed to be made. In March, lawmakers began creating a foundation for the package of bills. In April, Chairman of the Ways and Means Subcommittee on Oversight Lynn Jenkins, a Republican, and ranking Democratic member John Lewis introduced the bill package to positive reviews.
The package includes a number of bills that would make several substantial changes to the structure of the IRS and its procedures. Many of these changes will affect taxpayers, and it’s important that you work with a tax attorney in Arizona to stay abreast of the changes and how they will impact you specifically.
Some proposals considered in the new legislative package have already been killed in debate. Examples include regulations for unenrolled tax return preparers and a reorganization of the IRS into three separate entities. Though these proposals have been killed, there is no guarantee that they won’t be revised and reintroduced.
There is no word on when these proposed changes might move through Congress, or when anything might get a vote. The package could move quickly, or it could take years to see any concrete changes. The best thing that taxpayers can do is to stay abreast of the news and keep in close contact with a Phoenix tax lawyer.
https://www.youtube.com/watch?v=eFv7Ckdmac8&t=3sYou may not be able to control what happens in Congress (outside of voting and calling your representatives), but you can control how you handle your tax responsibilities. Hiding your head in the sand won’t save you from the tax changes ahead. Ignorance of the law is not a defense of it. You need to work with a good IRS lawyer in Phoenix who stays knowledgeable about the changes and can keep you informed.
Your PHX tax lawyer should not only be able to explain any tax law changes as they happen, but should also be able to prepare you for changes that could be coming down the pike. At Silver Law PLC, every tax attorney on our team has worked for the IRS and has special knowledge of how tax cases are handled and prosecuted. They can use their intimate knowledge to help you. We represent clients in audits, help them get innocent spouse relief, counsel them on foreign tax reporting duties, represent them in tax litigation, and much more. Call us today to talk with a tax attorney in Arizona about the changes in store for the IRS and how they might affect you.
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Silver Law, PLC
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