Tags: US | IRS | Taxpayer | Information

IRS to End Release of Taxpayer Debt Information

Thursday, 05 Aug 2010 01:40 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

The Internal Revenue Service says it will end its policy of releasing information about back taxes and other debts owed by taxpayers when returns are filed in the coming tax season.

The information, called debt indicator codes, can serve as a warning that some or all of the person's refund might be held back to cover old debt. They are typically used by tax preparers to decide if a taxpayer can get a refund anticipation loan.

These short-term loans have been criticized by consumer advocates as charging high interest rates for providing access to money just a few days before taxpayers can get their refunds from the IRS with electronically filed returns.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Fort Hood Victims Link Shooter's ISIS Letter to Terrorism

Saturday, 30 Aug 2014 17:09 PM

Victims of the Fort Hood shooting in 2009 say that a letter gunman Nidal Hasan wrote to the leader of Islamic State prov . . .

Ferguson Rally Marks 3 Weeks Since Brown's Death

Saturday, 30 Aug 2014 15:40 PM

Hundreds converged on Ferguson on Saturday to march for Michael Brown, the unarmed black 18-year-old who was shot and ki . . .

St. Louis Officer Retires Amid Probe of 'Killer' Video

Saturday, 30 Aug 2014 15:27 PM

Police say a suspended St. Louis County officer who had been assigned to patrols in Ferguson has retired amid a review o . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved