2023 Filing Season was Better Than Expected

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Reports are in…2023 Filing Season was Better Than Expected

More People Using Professional Tax Services!

The word is in “A better tax season for just about everyone.” According to IRS managers, the 2023 filing season might go down in history as one of the best ever.

A recent review by the Professional Managers Association notes that for the 2023 filing season -wait times were down, service levels were up, and return processing was getting faster.  After nearly a decade of budget cuts, a global pandemic and many years of disruptive mid-season tax changes, this tax season shows what the IRS can achieve with the resources and space to do its job.

There were many reasons for positive review. Mainly, the IRS staffed up and there were not many tax changes. A big difference this year was the number of professionally prepared returns compared to self-prepared returns.

The filing season was somewhat of a return to normalcy. We recommend reminding taxpayers that each year brings with it a new set of challenges that require tax professionals to adapt. We are embracing a ‘what do I need to know for this tax season’ attitude, so you don’t have to.

The Internal Revenue Service today urged taxpayers who missed Tuesday’s April 18 tax-filing deadline to file as soon as possible. Taxpayers who owe and missed the deadline without requesting an extension should file quickly to limit penalties and interest. For struggling taxpayers unable to pay their tax bill, the IRS has several options available to help.

The IRS also reminds taxpayers who owed a refund that they don’t receive a penalty for filing late. People shouldn’t overlook filing a tax return. Every year, more than 1 million taxpayers overlook a tax refund; the IRS reminds those who didn’t file in 2019 that time is running out to get any refund owed to them.