Collection Takes One Step Forward, Two Steps Back


TAX NOTES

The IRS's enforcement revenue, which has been increasing sharply since 2002, reached $59.2 billion in fiscal year 2007, up 68% from 1998.

But it wasn't all good news for the Service - the total dollar amount of uncollected liabilities reached a 10-year high of $290 billion.

Source: Treasury Inspector General for Tax Administration’s Trends in Compliance Activities Through Fiscal Year 2007, www.ustreas.gov/tigta.

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VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.