FL - Interest rates for first half of 2025 announced
The floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments […]
Read MoreReflecting on the 2024 tax filing season, the IRS released major filing numbers for the season. The agency highlighted a variety of improvements that dramatically expanded service for millions of taxpayers during the 2024 filing season. “A well-funded IRS is like night and day for taxpayers. With the help of more funding and added resources, service for taxpayers this filing season eclipsed levels seen during the past decade. This tax season meant real-world improvements for people looking for help, whether calling, visiting in-person or using IRS.gov,” said IRS Commissioner Danny Werfel. Through the Inflation Reduction Act funding, the agency has expanded taxpayer services to historic levels, with double digit gains occurring in critical areas.
The IRS answered over 1 million more taxpayer phone calls and saw a large increase in traffic in the IRS website owing to a new and expanded “Where’s My Refund?” tool. Extended hours were added at 242 TAC locations across the nation, generating more than 11,000 extra service hours for taxpayers during the 2024 filing season. The agency also improved response times for help on the IRS main phone lines to just over three minutes. Over 450,000 returns were found to be filed between volunteer sites, Direct File and Free File. The new Direct File pilot, offered on a limited basis in 12 states, generated more than 60,000 tax returns after opening widely in mid-March. Finally, the IRS estimates about 19 million taxpayers will file extensions, which will be due October 15, 2024.
The floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments […]
Read MoreThe sale, rental, and associated charges for the design, installation, removal, and storage of holiday decorations and lighting are subject […]
Read MoreThe IRS has provided a safe harbor under Code Sec. 213(d) for amounts paid for condoms. Because amounts paid for condoms are […]
Read MoreThe IRS has offered some tips to taxpayers about scammers using fake charities to exploit unsuspecting donors in the aftermath […]
Read MoreThe IRS has encouraged taxpayers to register for an Identity Protection Personal Identification Number (IP PIN) to strengthen their defenses against tax-related […]
Read MoreThe IRS has made significant progress on Employee Retention Credit (ERC) claims, with processing underway on about 400,000 claims, worth […]
Read MoreThe IRS has issued a warning to taxpayers to be cautious of unscrupulous promoters claiming to offer help in resolving […]
Read MoreThe IRS Independent Office of Appeals (Appeals) today launched a pilot program as part of the IRS’ ongoing transformation efforts […]
Read More