Print this page

Estimated reading time: 0 minutes, 38 seconds

IRS: Destroyed Docs Won’t Hurt Preparers

Fire matchThe Internal Revenue Service says the destruction of 30 million paper information returns will not impact taxpayers or preparers. The IRS has been heavily criticized this month for the destruction of the returns, mainly Form 1099s, which the agency blamed on aging technology.

“Taxpayers or payers have not been and will not be subject to penalties resulting from this action,” the IRS said in a prepared statement.

 Some Congressional reaction was harsh while the America Institute of AICPAs issued a carefully worded statement that the action “was concerning”.

AICPA VP of taxation, Edward Karl said in the statement the “IRS management’s decision to destroy information return documents due to the processing backlog raised numerous questions regarding IRS’s decision making and risk assessment process.”

 

 

Read 1849 times
Rate this item
(1 Vote)