Magazine article from our research archive:

IRS expands its offset authority.

[ILLUSTRATION OMITTED]

The Service has published three revenue rulings and proposed and temporary regulations that expand its ability under Sec. 6402(a) to offset overpayments against tax liabilities and its ability under Sec. 6411(b) to apply tentative carryback allowances against unpaid tax liabilities. The rulings appear in IRB 200737 (9/10/07).

Sec. 6402(a) provides that the IRS may credit the amount of any overpayment against any liability for an internal revenue tax and refund any balance to the person who made the overpayment. Regs. Sec. 301.6402-1 provides that credit may be made against "any outstanding liability."

Sec. 6411 (a) allows tentative carryback ...

Related newspaper, magazine, and journal articles:

See all results. Or, try our Advanced Search.

Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 60 million articles! Access over 3,500 publications with a FREE trial!