IRS

At end of the last filing season, the IRS still had 10.5 million returns to process.

Just because Monday is the deadline for filing your returns​, it doesn't mean the IRS​ is ready to handle the workload.

The Internal Revenue Service's website experienced problems on Monday, the tax filing deadline, leaving many taxpayers frustrated.

Allowing tax preparers to help clients validate certain key data points before filing a return, passing regulatory standards for paid tax preparers, ...

Washington D.C. (April 18, 2022)—On Thursday, April 21, 2022 at 10:00 a.m. ET, Rep. Gerald E. Connolly, Chairman of the Subcommittee on Government ...

On February 24, the Internal Revenue Service issued proposed regulations which, if finalized, will offer individuals a favorable income tax strategy most ...

The funds from the grants are disbursed directly to installation contractors, who pay taxes on the grant funds as business income. But in 2019, Suffolk County ...

The new ruling would also be retroactive, so any homeowner who had already paid income taxes on a grant under the septic program would be entitled to a refund. Bellone will be sending a letter to Treasury Secretary Janet Yellen urging her to intervene in the tax dispute. But in 2019, Suffolk County Comptroller John Kennedy issued tax forms making the grant funds taxable income for homeowners.

With income tax returns due, Internal Revenue Service offices in Ogden and other U.S. cities h.

At the same time, 99.79 million returns had been processed as of April 8, up 9.5% from 91.15 million April 9 last year. Refunds are rapidly being sent to the vast majority of taxpayers within 21 days, with 70 million refunds worth $222 billion delivered through April 8,” he said. “The IRS continues to battle a backlog of over 2.4 million individual returns from 2021. The IRS’ annual budget has dipped 15% over the last 10 years in real terms, he said, and more workers are needed. According to IRS statistics, the IRS had received 103.32 million returns as of April 8 this year, up 2.4% from 100.92 million as of April 9, 2021. And of course, taxpayers are struggling to get an IRS representative on the phone to answer basic questions,” said Chad Hooper, executive director of the Professional Managers Association.

On Monday, it was Tax Day in the USA, which meant that taxpayers had until the end of the day to file their returns or request an extension.

On Monday, the IRS did not refer to any website slowdown-related difficulties. Since the deadline for filing returns was Monday, penalty concerns prompted users to implore the IRS to accept responsibility for the situation and desist from penalising people. According to the reports, many users reported seeing an error message on the IRS website that read, "We are unable to complete your request due to technical difficulties". On Monday, the IRS did not refer to any website slowdown-related difficulties. Since the deadline for filing returns was Monday, penalty concerns prompted users to implore the IRS to accept responsibility for the situation and desist from penalising people. According to the reports, many users reported seeing an error message on the IRS website that read, "We are unable to complete your request due to technical difficulties".

NPR's Daniel Estrin talks with Deputy U.S. Treasury Secretary Wally Adeyemo about the deadline to file taxes and what the department says the IRS needs.

Financial Advisor Magazine created exclusively for advisors by highly experienced editorial and publishing teams. We provide an interactive community for ...

Taxpayers across the United States were required to file their federal tax returns by April 18, and they did so amid a barrage of news about the Internal ...

The Texas senator used Tax Day to revive a longstanding Republican applause line: eliminating the federal government's main tax-collecting arm.

Taxes are due today, a reminder that the IRS continues on with its policy of auditing poorer families at five times the rate of everyone else in the U.S..

Suffolk County officials want its septic improvement program to be exempt from federal taxes. It's an effort to prevent wastewater pollution that leads to ...