From Barron’s – By Karen Hube —
As the 2023 tax-filing season kicks off, some taxpayers will find fewer hassles in dealing with the Internal Revenue Service compared with recent years, but most should keep a couple aspirin on hand—expect long waits and a stricter stance on collections.
The IRS has been working on building its services to adequate levels using funds allocated by the Inflation Reduction Act, which was passed in 2022. Some $80 billion will be meted out over 10 years, starting in 2023.
For years the agency has struggled to fulfill its responsibilities due to underfunding. Office closures and temporary tax rule changes during the pandemic worsened the situation, crippling phone services, creating massive backlogs that slowed refunds and driving audit rates to historic lows.
“There have been some improvements lately, such as shorter times on hold, but things are still not back to pre-Covid levels,” says Pamela Dennettt, a partner at Eisner Advisory Group.
Here’s what individual taxpayers can expect this filing season …
Contact the Pinnacle CPA Advisory Group
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