Connect with us

Hi, what are you looking for?

SevenHavenTrade.comSevenHavenTrade.com

Economy

IRS announces when it will begin accepting and processing 2023 tax returns

The IRS announced it will officially begin accepting 2023 tax returns on Monday, Jan. 29.

But although official processing won’t begin until that date, the agency said filers should not wait to start working on their returns. Most companies that provide tax-filing services have already made 2023 tax year forms available and will simply hold them until the IRS is ready to begin processing.

The agency said IRS Free File for taxpayers with annual incomes of $79,000 or less will also be available on IRS.gov starting Jan. 12. However, the new IRS Direct File pilot, which will allow eligible taxpayers to file their taxes online for free directly with the IRS, won’t be fully rolled out until mid-March.

“As our transformation efforts take hold, taxpayers will continue to see marked improvement in IRS operations in the upcoming filing season,” said IRS Commissioner Danny Werfel. “IRS employees are working hard to make sure that new funding is used to help taxpayers by making the process of preparing and filing taxes easier.”

Among the improvements the agency is touting are expanded in-person services via Taxpayer Assistance Centers (TACs); increased help available on the toll-free hotline, and an expanded customer callback feature designed to significantly reduce wait times.

The agency said it expects more than 128.7 million individual tax returns to be filed by the April 15 tax deadline this year.

This post appeared first on NBC NEWS

You May Also Like

Editor's Pick

As a main aluminum producer, Alcoa (AA) announced cost-cutting measures, along with plans to curtail production at one Western Australian Refinery. But that is...

Economy

An error in how the Education Department calculates financial aid threatens to leave some U.S. students with lower subsidy amounts for their secondary schooling...

Editor's Pick

Uncertainty needs attention in order for it to make you second guess yourself. Instead, wait for trends to change, and then make changes. On...

Editor's Pick

Paul Matzko I had the opportunity to work with two economists on a paper testing a proposition from my book on conservative broadcasting in the 1960s. I had argued...