The IRS has set a year-end deadline to clear its backlog of unprocessed tax returns. How’s it going? As of Sept. 30, there were 5.8 million individual returns outstanding (down from 8.7 million in August). Despite making progress, the IRS still faces challenges. The agency has hired 5,000 new workers at processing centers and the recently enacted Inflation Reduction Act provides $80 billion in new funding. But the IRS is having trouble filling positions and, according to the National Taxpayer Advocate, paper returns continue to complicate progress through the backlog. The IRS hopes to invest in new technologies that will assist it in reducing turnaround times for paper returns. Call or visit our website for more information! www.mjscpa.com/
