Tax Filing Archive
Enforcement vs. E-Filing Technology Modernization
August 29, 2022
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TweetShareSharePin0 Shares The Internal Revenue Service (IRS) was one of the biggest winners in the recently enacted Inflation Reduction Act (IRA). The new law approved roughly $80 billion in additional IRS funding over the next 10 years. This will boost the IRS budget from around $12 billion per year to roughly $20 billion, a 66
Tax Compliance Costs of IRS Regulations: Details & Analysis
August 23, 2022
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TweetShareSharePin0 Shares In a pattern that has become all too common in recent decades, the newly enacted Inflation Reduction Act (IRA) added yet another layer of tax complexity to an already complex and burdensome federal tax code. While the Inflation Reduction Act increased the Internal Revenue Service (IRS) budget by roughly $80 billion over 10
Personal Income (PI) in the US
July 21, 2022
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TweetShareSharePin0 Shares Key Findings Taxpayers reported nearly $12.1 trillion of total income on their 2019 tax returns. About 68 percent ($8.3 trillion) of the total income reported on Form 1040 consisted of wages and salaries, and 82 percent of all tax filers reported earning wage income. Retirement accounts such as 401(k)s and pensions are important
Tax Filing Season: Options for Improvement
April 27, 2022
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TweetShareSharePin0 Shares Tax Day came and went on April 18th with the regular tax filing deadline, and the Internal Revenue Service (IRS) is facing difficulties. It struggled to manage a deluge of 282 million calls made in fiscal year 2021, only answering 11 percent, and a backlog of several million returns from 2021 were left
Chaotic 2022 IRS Filing Season Shows Flaws in IRS Benefits Distribution
March 24, 2022
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TweetShareSharePin0 Shares As the deadline for the 2022 tax filing season nears, the IRS faces scrutiny for its backlog of returns, inaccessible taxpayer service, and delays in issuing certain refunds. As of January 28th, the Internal Revenue Service (IRS) had 23.7 million returns awaiting action, compared to a typical backlog at that point of roughly
