How The IRS Operates Is About To Undergo A Major Change

How The IRS Operates Is About To Undergo A Major Change. Here's what it means for you

Russ Wiles, Arizona Republic  Sun, April 23, 2023 a

With the 2022 income-tax filing season mostly in the books, attention turns to the future. Next year’s filing season, and those beyond, could look and feel much different.

Following the passage of the Inflation Reduction Act in 2022, the Internal Revenue Service will receive nearly $80 billion in added funding from now through fiscal year 2031 to catch up with backlogs, hire more employees, implement 21st-century technology, go after increasingly sophisticated tax cheats and, in short, reinvent itself.

The agency released a Strategic Operating Plan in late March. It envisions significant change to improve taxpayer services, quickly resolve problems, use technology to operate more effectively, expand the workforce, improve its culture and collect a lot more money from corporations, partnerships and wealthy individuals.

If some of the proposals come to fruition, taxpayers could:

Receive real-time help from the IRS to identify potential mistakes and alerts for claiming overlooked deductions, before filing their returns.

Reach live IRS representatives quickly by phone or easily arrange meetings in local IRS offices.

Access their personal information more easily from the IRS website, including balances, payments and notices.

Get real-time updates on return processing, refunds, audits and personal interactions.

Find it easier to resolve past-due tax bills and arrange payments on balances owed.

Interact with the IRS with greater confidence that personal information and refund money will be protected.

Those are just a sampling of the more visible changes that taxpayers might see in coming years. It's a rare opportunity to modernize the IRS and make it more effective and efficient.

More money for a range of initiatives

The vision is to create “world-class customer service where taxpayers can engage with the IRS in a fully digital manner if they choose,” wrote new IRS Commissioner Daniel Werfel in a letter to Treasury Secretary Janet Yellen.

Helpful tools will better enable taxpayers to navigate the complexity of the tax system and interact, if necessary, with a customer-service staff that will be “maintained at the right size and with the right resources and training to always be ready to meet the taxpayer demand for assistance," he added.

To continue reading, please go to the original article here:

https://news.yahoo.com/irs-operates-undergo-major-change-140032742.html

Previous
Previous

"Real Time Payments" Thoughts by DJ Monday 3-24-2023

Next
Next

More News, Rumors and Opinions Monday Afternoon 4-24-2023