Did the IRS Do Better This Tax Season?
Audio version available here:
Length: approx. 1 min. 30 sec.
April 15th has come and passed, which means you should have filed either your tax return or an extension to file with the IRS. If you were unable to submit your tax return or pay your tax balance yesterday, you may incur Failure to File or Failure to Pay penalties, so make sure you file and/or pay as soon as possible. Now that you’ve done your part, did the IRS do the same?
According to the U.S. Department of the Treasury, the IRS greatly improved its service this year compared to last year’s tax season. Slightly exceeding its goal of 85%, the IRS reached an 88% Level of Service. Part of this achievement included improving phone services like wait times. Instead of wasting hours on hold, the IRS’s call-back option “saved taxpayers 1.4 million hours” if wait times exceeded 15 minutes.
However, hiccups still occurred. Though the IRS pledged to keep more Taxpayer Assistance Centers open for longer, including weekends, taxpayers in Houston drove hours the Saturday before April 15th just to find that the center was closed before noon. With the IRS unable to deliver at such a crucial time, hundreds of taxpayers’ time was wasted and tax situations jeopardized.
Despite being provided ample funds from the Inflation Reduction Act, the IRS is still unable to fully meet the needs of millions of taxpayers across the nation. And yet, the IRS is determined to collect more money from taxpayers through its increased scrutiny, of which hundreds of millions of dollars has already been collected.
Being certain that your tax return is accurate is more important than ever as the IRS ramps up its enforcement efforts. If you want to be ahead of the curve for 2024, or if you have not yet filed your 2023 return, reach out to the tax team at XQ CPA. We are here for you.
Phone: 832-295-3353
Online Booking: https://xqcpa-bookme.acuityscheduling.com/schedule.php
Want the latest and greatest tax tips and business news? Stay up to date with our social media!
Our blog: https://www.xqcpahouston.com/blog
Our channel: https://youtube.com/@XQCPA
Facebook: https://www.facebook.com/XQCPA/
Instagram: https://www.instagram.com/tax_xqcpa/
Twitter: https://twitter.com/xqcpa
LinkedIn: https://www.linkedin.com/company/xq-cpa/
TikTok: https://www.tiktok.com/@xq.cpa
Sources:
Commentaires