IRS gives Leeway to those Owing Back Taxes


In a move to help fnancially strapped taxpayers make a fresh start, the IRS will implement a few new regulations. The agency plans to fle fewer tax liens and make it easier to get tax liens withdrawn, which in turn clears taxpayers’ credit records of the bad mark. This marks the latest effort by the IRS to go easier on taxpayers in this diffcult economy.

In light of the fact that the number of tax liens has skyrocketed to 1.1 million in 2009, an alarming 550% increase from 1999, this is a welcome move. Even the National Taxpayer Advocate, an independent voice representing the interests of taxpayers within the IRS, Nancy E. Olson agrees. She said in a statement, that the IRS is making a “signifcant step in the right direction” but that it's not clear how many taxpayers will be spared liens under the new policy.

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