The national taxpayer advocate gives frustrated taxpayers a voice.
SINCE 2001, NINA OLSON, THE IRS’S national taxpayer advocate, has been on a mission: to make sure taxpayers’ rights are protected when they’re up against a government agency that many Americans find intimidating, if not downright terrifying. Under her tenure, the Taxpayer Advocate Service, created in 1996, has helped more than 4 million taxpayers resolve problems, ranging from frozen tax refunds to tax liens that threaten an individual’s livelihood.
The Taxpayer Advocate Service is designed to help taxpayers who “have a significant hardship as a result of IRS actions or are about to experience significant hardship,” Olson says. In some cases, the TAS may get involved even though “the IRS is doing nothing wrong, but it’s not acting fast enough, and because of that it’s going to create economic harm,” she says.
In recent cases, the TAS prodded the IRS to remove a steep penalty on an IRA rollover (it was the bank’s fault the taxpayer missed the 60-day deadline), tracked down a refund for a woman who needed money to pay for cancer treatments, and convinced the IRS to release a levy on a retiree’s Social Security benefits, which were her only source of income.
Olson is retiring on July 31. She sat down with Kiplinger’s to talk about her achievements during the past 18 years and the challenges that will await her successor.
What are some of the most common reasons taxpayers come to you?
Bu hikaye Kiplinger's Personal Finance dergisinin July 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Kiplinger's Personal Finance dergisinin July 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
FREE HELP FOR COLLEGEBOUND STUDENTS
This program’s mentors assist applicants as they fill out the FAFSA, write essays and more.
WHAT YOU SHOULD KNOW ABOUT SPOUSAL IRAS
You typically need earned income to contribute to an individual retirement account, but a spousal IRA provides an important exception to this rule.
SELLING SHARES? HERE'S HOW TO MINIMIZE TAXES ON YOUR GAINS
ET'S say you've been regularly buying shares in a booming tech company over the past few years, but now you want to start taking some of those profits, perhaps to rebalance your portfolio.
Strategies for Novice Investors
AS part of a lifes kills program for young, single mothers, I was asked to teach a class on how to get on top of your finances.
ANSWERS TO YOUR 529 PLAN QUESTIONS
Thanks to recent policy changes, families have more options for what to do with money sitting in these tax-advantaged accounts.
Rate-Cut Winners and Losers
NOW that the Federal Reserve has cracked the interest rate ice, the next development will be to separate winners from losers.
SHOULD YOU BUY THESE RED-HOT FUNDS?
Covered-call ETFs are popular but come with plenty of caveats.
DIVIDEND STOCKS ARE READY TO REBOUND
Our favorite dividend payers are poised to benefit as falling interest rates lure investors back.
IS A 55+ COMMUNITY RIGHT FOR YOU?
These age-restricted developments appeal to older adults seeking abundant amenities and an active lifestyle.
AT LONG LAST, RATES ARE DROPPING
Consider these portfolio moves now that the Federal Reserve has cut its benchmark interest rate.