Stock

IRS announces when it will begin accepting and processing 2023 tax returns

The IRS announced it will officially begin accepting 2023 tax returns on Monday, Jan. 29.

But although official processing won’t begin until that date, the agency said filers should not wait to start working on their returns. Most companies that provide tax-filing services have already made 2023 tax year forms available and will simply hold them until the IRS is ready to begin processing.

The agency said IRS Free File for taxpayers with annual incomes of $79,000 or less will also be available on IRS.gov starting Jan. 12. However, the new IRS Direct File pilot, which will allow eligible taxpayers to file their taxes online for free directly with the IRS, won’t be fully rolled out until mid-March.

“As our transformation efforts take hold, taxpayers will continue to see marked improvement in IRS operations in the upcoming filing season,” said IRS Commissioner Danny Werfel. “IRS employees are working hard to make sure that new funding is used to help taxpayers by making the process of preparing and filing taxes easier.”

Among the improvements the agency is touting are expanded in-person services via Taxpayer Assistance Centers (TACs); increased help available on the toll-free hotline, and an expanded customer callback feature designed to significantly reduce wait times.

The agency said it expects more than 128.7 million individual tax returns to be filed by the April 15 tax deadline this year.

This post appeared first on NBC NEWS

You May Also Like

Stock

Union members at Ford, Stellantis and General Motors have ratified a new 4½-year contract, locking in at 11% pay increases secured after a six-week...

Investing

ASX-listed Antilles Gold (ASX:AAU, OTCQB:ANTMF) is an Australian mining company focused on gold and copper projects in Cuba through joint ventures with the Cuban...

Editor's Pick

California Gov. Gavin Newsom announced Sunday that he was appointing Emily’s List President Laphonza Butler as the replacement to former senator Dianne Feinstein (D-Calif.),...

Editor's Pick

JERUSALEM — Iran launched a massive attack of more than 300 missiles and drones toward Israel late Saturday, a stunning assault that put the...

Disclaimer: investmentintellecthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 InvestmentIntellectHub.com