The deadline for most Americans to file their taxes is April 18 this year, but the Internal Revenue Service is already looking to the future.
As part of an $80 billion dollar investment — stemming from the 2022 Inflation Reduction Act — the IRS recently announced new plans that will impact all tax payers. You can read about some the major changes here. There are additional operational adjustments in the works as well, including:
- Adding more locations for IRS staff to conduct in-person services
- Hiring additional staff to reduce wait times
- Expanding online accounts so taxpayers can address any problems electronically
The agency will elaborate on these changes as well as how it plans to spend the $80 billion dollars in funding later this week.
Due to the severe weather around the country over the past couple of weeks, the IRS is extending deadlines for millions of Americans impacted by the conditions:
- Storm victims in impacted parts of Mississippi and Arkansas: extended to July 31
- Residents and Businesses in affected parts of California, Alabama and Georgia: extended to October 16
According to the IRS, the government has already issued $172 billion dollars in refunds, which is about 9% less than last year. The average refund also dropped, falling from around $3,200 dollars, down to $2,900 dollars.
