A kinder gentler IRS reshapes tax collection
The IRS restructures to emphasize taxpayer service and rights. The reform act adds nearly 100 changes including shifting proof burden to the IRS, penalties relief, and stronger taxpayer advocate powers. Officials say the culture will take time to change but emphasize taxpayers as customers and dispute avoidance.
MENTIONED IN THIS ARTICLE
Ashington
Internal Revenue Service
Congress
Senate Finance Committee
IRS
Charles Rossetti
Roth IRA conversion seen as smart move for many
Accountants say converting traditional IRAs to Roth IRAs remains advantageous for many taxpayers in 1999. Roth contributions are not deductible but withdrawals after 59 1/2 and five years are tax free. Up-front taxes apply, and income limits apply. four-year spacing allowed for 1998 conversions.
MENTIONED IN THIS ARTICLE
Ashington
Joan Vines
Grant Thornton LLP
Congress
Vines
Peopl
IRS optimistic Y2K readiness for tax system
The Internal Revenue Service surveys confidence in Y2K preparedness yet warns taxpayers to watch for glitches. Commissioner Charles Rossetti says no taxpayer will suffer financial harm amid potential inconveniences. By end of January all programs are to be Y2K compliant after two years and 40 million lines rewritten.
MENTIONED IN THIS ARTICLE
Ashington
Internal Revenue Service
IRS
Charles Rossetti
John Yost
Yost
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