From the November 2007 issue of Investment Advisor • Subscribe!

The Buzz

The following quotes of note were made by IRS officials and tax professionals on recent Tax Talk Today webcasts.

"The IRS never really has turned around on a dime... I like to think that the Telephone Excise Tax Refund is a significant issue for us because we were able to turn around on a quarter." --Jane Looney, director, reporting compliance, wage and investment, IRS, on the speed with which the IRS has implemented, and begun examinations on, the Telephone Excise Tax Refund.

"Now, the thing about the money that is sent in--it is considered to be payment of tax; therefore, it is non-refundable." --Charlestine Hardy, director, campus compliance operations, Memphis IRS, on the importance of designating how offer-in-compromise deposits and payments should be applied.

"They can't just go in and wing it."--Daniel J. Wiles, managing director, Washington National Tax Service, PWC, on the importance of understanding--and respecting--what the appeals process can and cannot do.

"I would caution you that if you go to district court, I can't see you."--Sarah Hall Ingram, chief, appeals, IRS, on the impact that going to court will have on the taxpayer's ability to deal with the Appeals Division.

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