2020 – 01/31

As we begin to file 2019 tax returns, a new report looks at how the IRS performed last tax season. A Treasury Inspector General for Tax Administration (TIGTA) audit shows that, by May 2019, the IRS received over 141 million returns and issued about 100.4 million refunds totaling more than $274 billion. In addition to standard processing, the IRS incorporated hundreds of changes brought by the Tax Cuts and Jobs Act. The audit uncovered errors in IRS processing systems, affecting about 251,000 e-filed returns. TIGTA concluded that “processes and procedures are needed to detect potential false deduction claims” for various items. To read the report: https://bit.ly/36EI7gC

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