The IRS estimates that the net tax gap is $290 billion. CFO Tech has been told by reliable sources that the IRS has plans to step up enforcement and collection activities. The Phoenix field office alone has plans to triple their enforcement personnel within the next year.
What that means is we can expect more vigorous collections activities in the form of liens, levies and garnishments. There will also be more audits especially of small business owners due to improperly prepared tax returns, faulty accounting records, unsubstantiated deductions (failure to maintain receipts), etc. If you are afraid you might be next, give CFO Tech a call.