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Taxation

  • A Solution for Taxpayers Whose E-File Attempts Are Rejected

    By:
    Ruth Singleton
    |
    Apr 6, 2022
    Many taxpayers who filed paper returns last year for 2020 are receiving rejections notices from the IRS when they try to file electronically this year for 2021, but there is a way to fix that problem.
  • Higher Percentage of Americans Must Pay Taxes on 2021 Unemployment Benefits than Did on 2020 Benefits

    By:
    Ruth Singleton
    |
    Apr 4, 2022
    A higher percentage of Americans will need to pay taxes on the unemployment benefits that they received in 2021 than the Americans who received such benefits in 2020. While the percentage of Americans who withheld taxes on their unemployment benefits was similar in both years—about 40 percent—Congress exempted up to $10,200 of benefits from taxation in 2020 in its American Rescue Plan, but there was no similar tax break for 2021 unemployment benefits
  • Taxpayer Advocate: IRS Should Use Scanning Technology to Process Paper Returns

    By:
    Ruth Singleton
    |
    Mar 30, 2022
    Taxpayer Advocate Erin Collins, in a blog post published Wednesday, urged the IRS to implement scanning technology to automate the processing of paper tax returns during the next filing season. She pointed to the agency’s “archaic data intake process,” involving manual transcription of paper returns, saying, “In the year 2022, this doesn’t just seem crazy. It is crazy.”
  • IRS Updates Its Guidance on Third-Round Economic Impact Payments

    By:
    Ruth Singleton
    |
    Mar 28, 2022
    The IRS has issued a revised fact sheet on the third round of Economic Impact Payments, the pandemic-related payments of $1,400 made to eligible individuals,authorized by the American Rescue Plan Act of 2021. 
  • Report: 57 Percent of American Households Paid No Income Tax in 2021

    By:
    Ruth Singleton
    |
    Mar 25, 2022
    A report by the Tax Policy Center has found that 57 percent of U.S. households paid no income tax last year because of COVID-19-related job losses, relief funds, tax credits and stimulus payments. The percentage rose from 44 percent pre-pandemic.  
  • TIGTA Report: IRS Should Make Changes to Remedy Inadequate Assistance to Taxpayers Over Tax Accounts

    By:
    Ruth Singleton
    |
    Mar 24, 2022
    The Treasury Inspector General for Tax Administration (TIGTA) recently issued a report following an audit initiated because of a backlog of over-aged Accounts Management inventory, which  has been an ongoing challenge for the IRS. Among its recommendations, TIGTA  urged the IRS to redirect tax account correspondence from its tax processing centers to its accounts management campus supports sites in order to expedite service to taxpayers. 
  • IRS Commissioner Says 2022 Filing Season Had Strong Start, Despite Backlogs from Last Year

    By:
    Ruth Singleton
    |
    Mar 18, 2022
    In testimony before the House Ways and Means Committee Thursday, IRS Commissioner Charles P. Rettig, while acknowledging continuing backlogs of paper returns from last year, said that the 2022 filing season has gotten off to a strong start with regard to tax return processing and the operation of its information technology (IT) systems. “Through March 11, the IRS received more than 63 million individual federal tax returns and issued more than 45 million refunds totaling more than $151 billion,” he said. “Refund returns continue to be processed on a priority basis ahead of returns with a balance due or full payment of the underlying liabilities.”