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IRS blames old tech in destruction of information returns ... IRS audit rates decreased most for wealthy, GAO finds ... Staffing shortages, backlog hampered IRS in 2022 filing season, TIGTA says ... Inflation boosts HSA amounts for 2023 ... Helping build a better tax system (podcast)

IRS blames old tech in destruction of information returns

The IRS responds to a report by the Treasury Inspector General for Tax Administration that pointed to the March 2021 incident as one example demonstrating a need for the Service to increase e-filing options.

IRS audit rates decreased most for wealthy, GAO finds

In a study, the U.S. Government Accountability Office finds that the IRS's individual tax audit rates decreased by 72% during 2010—2019, by a greater percentage for higher-income taxpayers than for lower-income ones.

Staffing shortages, backlog hampered IRS in 2022 filing season, TIGTA says

The Treasury Inspector General for Tax Administration issues a preliminary assessment of the IRS's performance during the period for income tax filings.

Inflation boosts HSA amounts for 2023

Health savings account maximum contributions, along with minimum deductibles and maximum out-of-pocket expenses of accompanying high-deductible health plans, will be higher next year.

Helping build a better tax system (podcast)

A CPA describes his journey from a small practice to advising the IRS and Congress on issues of tax policy and administration.

Where to find March’s flipbook issue

The Journal of Accountancy is now completely digital. 

 

 

 

SPONSORED REPORT

Get Clients Ready for Tax Season

This comprehensive report looks at the changes to the child tax credit, earned income tax credit, and child and dependent care credit caused by the expiration of provisions in the American Rescue Plan Act; the ability e-file more returns in the Form 1040 series; automobile mileage deductions; the alternative minimum tax; gift tax exemptions; strategies for accelerating or postponing income and deductions; and retirement and estate planning.