Tax Tip of the Week | No. 259 | IRS Adopts Taxpayer Bill of Rights

Tax Tip of the Week | July 16, 2014 | No. 259 | IRS Adopts Taxpayer Bill of RightsA new attitude?.....

The Internal Revenue Service has adopted a "Taxpayer Bill of Rights" that it said would become a cornerstone document to provide the nation's taxpayers with a better understanding of their rights.The Taxpayer Bill of Rights takes multiple existing rights that have already been included in the Tax Code and groups them into 10 broad categories, making them more visible and easier for taxpayers to find on IRS.gov.Publication 1, "Your Rights as a Taxpayer," has been updated with the 10 rights and will be sent to millions of taxpayers this year when they receive IRS notices on issues ranging from audits to collection. The rights will also be publicly visible in all IRS facilities for taxpayers and employees to see."The Taxpayer Bill of Rights contains fundamental information to help taxpayers," said IRS Commissioner John A. Koskinen in a statement. "These are core concepts about which taxpayers should be aware. Respecting taxpayer rights continues to be a top priority for IRS employees, and the new Taxpayer Bill of Rights summarizes these important protections in a clearer, more understandable format than ever before.”“Congress has passed multiple pieces of legislation with the title of ‘Taxpayer Bill of Rights,’” Taxpayer Advocate Olson said. “However, taxpayer surveys conducted by my office have found that most taxpayers do not believe they have rights before the IRS and even fewer can name their rights. I believe the list of core taxpayer rights the IRS is announcing today will help taxpayers better understand their rights in dealing with the tax system.”The Tax Code includes numerous taxpayer rights, but they are scattered throughout the code, making it difficult for people to track and understand. Similar to the U.S. Constitution’s Bill of Rights, the Taxpayer Bill of Rights contains 10 provisions. They are:1. The Right to Be Informed2. The Right to Quality Service3. The Right to Pay No More than the Correct Amount of Tax4. The Right to Challenge the IRS’s Position and Be Heard5. The Right to Appeal an IRS Decision in an Independent Forum6. The Right to Finality7. The Right to Privacy8. The Right to Confidentiality9. The Right to Retain Representation10. The Right to a Fair and Just Tax SystemDoes this mean I no longer need to wait on hold for an hour when calling the IRS?   We’ll keep you informed.

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Rick Prewitt - the guy behind TTW...until next week.