The IRS is reminding taxpayers that their passports could be revoked if they don’t pay back taxes.(IR-2019-141, 8/8/19) Under the Fixing America’s Surface Transportation (FAST) Act, the IRS notifies the State Department about taxpayers who are certified as owing a “seriously delinquent tax debt.” Currently, the threshold is $52,000. If a taxpayer has a valid passport, the State Department may revoke it or limit the ability to travel outside the United States. Taxpayers will be notified about owing a seriously delinquent tax debt on Notice CP508C. it will also explain how to resolve the debt. For instance, IRS telephone assistors can help taxpayers establish a payment plan or inform them about other payment options.
Small Business Tax Strategies