The IRS is set to launch a pilot electronic free file tax return system in January, inviting taxpayers from 13 states to participate. This move has drawn opposition from private tax preparation companies, potentially disrupting the industry. The IRS aims to ensure a smooth rollout and gather valuable data from the pilot program to evaluate its usefulness.
The IRS is set to launch a pilot electronic free file tax return system in January, inviting taxpayers from 13 states to participate.
IRS Commissioner Danny Werfel has ordered the immediate suspension of new claims for the employee retention credit (ERC), a pandemic-era small business tax break, due to a surge in questionable claims.
Business owners seeking to claim the Employee Retention Credit (ERC) should exercise caution to avoid falling victim to scams and misinformation.
With Tax Day upon us, small businesses are already struggling with economic growth, and the IRS has not been of much help.
Regardless of what the Biden Administration says to quell frustration, the fact of the matter is that 87,000 new IRS agents are more than three times what would be needed to audit households that make over $1 million.
Each year, tens of millions of Americans file their tax returns, and a significant number of them are missing out on a valuable credit, the earned income tax credit (EITC), according to the IRS