The US Treasury Department stated that beginning with the 2024 filing season, taxpayers would prefer opting out of receiving any printed contact from the Internal Revenue Service (IRS).
All documents of taxpayers will be digitized as soon as they arrive at the IRS.
As per Treasury Department, IRS wants to process all tax returns entirely paperless while immediately digitizing them. This will cut processing times in half and speed up refunds by a few weeks.
The IRS antedates saving millions of dollars by advancing paperless processing and streamlining how Americans access their taxpayer data. By and large, the IRS spent millions keeping more than a billion papers. Accordingly, Treasury Department digitization can also help eliminate errors that result from manually inputting data from paper returns. It will also help taxpayers get answers to questions more quickly.
In the succeeding filing term, taxpayers will file electronically for 20 additional tax forms, including those used to report identity theft or provide proof of eligibility for “key credits and deductions that help low-income households.” These forms are among the most frequently submitted when amending returns.
The IRS gave mobile-friendly formats priority since it believes that 15% of Americans only use their mobile phones to access the Internet
The Treasury Department said that Taxpayers who want to submit paper returns and correspondence can continue to do so paper will be renewed into digital form as soon as it arrives at the IRS. By 2024, the IRS expects that “more than 94 percent of individual taxpayers will no longer need to send mail to the IRS.
Read Also: Illinois Is The First State To Begin Compensating SNAP Fraud Victims
Leave a Reply