The IRS released the 2019 Data Book (https://www.irs.gov/pub/irs-pdf/p55b.pdf), which is a snapshot of IRS activities for the government’s fiscal year from October 1, 2018, through September 30, 2019. The book has been redesigned and provides an expanded look at IRS accomplishments regarding revenue collections, taxpayer services, and enforcement activities. Some key information includes:
The IRS also surveyed taxpayers on certain areas and found that satisfaction with their personal interactions with the IRS has increased since 2017, with most taxpayers being satisfied. Nearly all taxpayers consider paying their fair share of taxes to be their civic duty. And most agree that cheating on their income taxes isn’t acceptable.
A sale of property that allows for tax deferment if at least one payment is received after the end of the tax year in which the sale occurs. The installment method does not apply to year-end sales of publicly traded securities. Dealers may not use the installment method. Investors with very large installment balances could face a special tax.