The Internal Revenue Service says the destruction of 30 million paper information returns will not impact taxpayers or preparers. The IRS has been heavily criticized this month for the destruction of the returns, mainly Form 1099s, which the agency blamed on aging technology.
“Taxpayers or payers have not been and will not be subject to penalties resulting from this action,” the IRS said in a prepared statement.
Some Congressional reaction was harsh while the America Institute of AICPAs issued a carefully worded statement that the action “was concerning”.
AICPA VP of taxation, Edward Karl said in the statement the “IRS management’s decision to destroy information return documents due to the processing backlog raised numerous questions regarding IRS’s decision making and risk assessment process.”
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards. Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that. A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
