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 MoreThe IRS has announced a special new page on IRS.gov to provide the latest information affecting the 2022 filing season. The IRS has created this special web page to help taxpayers who may face numerous issues due to pandemic-related challenges and critical law changes that took place in 2021. The page will raise awareness about these issues and provide taxpayers with the latest timely information. The page will also provide a quick overview of information to help taxpayers who have previous year tax returns awaiting processing by the IRS. The page also includes links to information regarding the ongoing efforts by the agency to address the inventory of unprocessed tax returns filed before this year. This includes steps to stop over a dozen common letters to taxpayers and updates on IRS operations and unprocessed tax returns. The page will be available through the IRS.gov home page and shared through social media and other channels. The IRS began this tax season on January 24 and over 4 million tax refunds worth nearly $10 billion have gone out in less than two weeks. Millions more will go out in the weeks ahead.
IRS Commissioner Chuck Rettig stated that this new page provides a one-stop-shop for the latest key information taxpayers and the tax community may need. He further stated that the combination of new tax laws, the pandemic and numerous other factors have led to an unprecedented amount of unprocessed tax returns and correspondence remaining in the IRS inventory. He stated that the IRS must continue pursuing innovative strategies to return inventories to a healthy level before entering the 2023 filing season. Finally, he informed taxpayers that refunds for tax returns and amended tax returns in the inventory continue to flow out to taxpayers. The IRS urged taxpayers to carefully review their tax filings for accuracy and file electronically with direct deposit to speed refunds.
The floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments […]
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