IRS targets ‘unscrupulous’ tax preparers amid business credit crackdown

IRS targets ‘unscrupulous’ tax preparers amid business credit crackdown

IRS Commissioner Daniel Werfel testifies before the Senate Finance Committee on April 19, 2023. Chip Somodevilla | Getty Images IRS scrutiny of the employee retention credit The plan is part of the agency’s elevated focus on employee retention credit claims, according to April Walker, lead manager for tax practice and ethics with the American Institute … Read more

IRS unveils ‘paperless processing initiative’ for taxpayers

IRS unveils ‘paperless processing initiative’ for taxpayers

The IRS has unveiled plans to offer digital correspondence for the 2024 season and aims to offer “paperless processing” for tax returns in 2025. It’s expected the plan will eliminate up to 200 million pieces of paper every year, slash processing times by half and speed up refunds by several weeks. “This is truly a … Read more