Double Taxation? New Bill Out Of Tennessee Stops IRS From Taxing Interest Paid To Audit Winners

Double Taxation? New Bill Out Of Tennessee Stops IRS From Taxing Interest Paid To Audit Winners

U.S. Senator Marsha Blackburn (R-Tenn.) introduced legislation Wednesday aimed at ending what she describes as an unfair penalty on taxpayers who successfully challenge the Internal Revenue Service (IRS). The proposed “No Tax on Wrongful Delay Act” would prevent the federal government from levying income taxes on interest paid to taxpayers who win an audit or […] Double Taxation? New Bill Out Of Tennessee Stops IRS From Taxing Interest Paid To A…

Senator Marsha Blackburn Proposes Legislation to Stop IRS From Taxing Interest Owed to Taxpayers - Clarksville Online - Clarksville News, Sports, Events and Information

Washington, D.C. – Today, U.S. Senator Marsha Blackburn (R-Tenn.) released the following statement after introducing the No Tax on Wrongful Delay Act, which would ensure interest paid by the Internal Revenue Service (IRS) to taxpayers who prevail in an audit or tax-related litigation is not treated as taxable income: “The American people should not be forced to pay income taxes on the interest they are owed from the IRS when they prevail in an a…