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.

FEATURE

Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.

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