IRS Declares January 29 as the Launch Date for 2024 Tax Season

The IRS made an official announcement on Monday, marking January 29 as the commencement of the 2024 tax season, anticipating over 128.7 million tax returns to be submitted by the April 15 deadline.

This announcement coincides with the agency’s significant reformation initiatives, aiming to revamp technology and customer service processes. 

The Democrats’ Inflation Reduction Act, endorsed in August 2022, sanctioned a substantial allocation of tens of billions of dollars to the IRS.

In a news release, IRS Commissioner Danny Werfel highlighted the ongoing transformation efforts, assuring taxpayers of noticeable enhancements in IRS operations during the upcoming filing season. 

He emphasized the diligent utilization of new funding to simplify tax preparation and filing procedures for taxpayers.

The agency leadership unveiled plans to expand walk-in centers, enhance paperless processing for IRS communications, and introduce improved individual online accounts for taxpayers.

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IRS Targets Faster Refunds Under 21 Days

irs-declares-january-29-as-launch-date-2024-tax-season
The IRS made an official announcement on Monday, marking January 29 as the commencement of the 2024 tax season, anticipating over 128.7 million tax returns to be submitted by the April 15 deadline.

The IRS is offering eligible taxpayers the opportunity to file their 2023 returns directly online through an electronic direct file pilot, an initiative anticipated to launch in phases and be widely accessible by mid-March.

Anticipating a streamlined process, the IRS foresees issuing most refunds in under 21 days, a significant improvement from prior years’ backlogs of paper tax returns. 

In June 2022, the agency grappled with over 21 million backlogged paper tax returns, prompting National Taxpayer Advocate Erin Collins to acknowledge the daunting challenge.

Despite increased funding, the IRS faces new hurdles, confronting persistent threats of funding cuts. Previous agreements, including a debt ceiling pact and budget cuts between Republicans and the White House, led to rescinding $1.4 billion from the initial $80 billion allocation under the Inflation Reduction Act. Another agreement diverted $20 billion from the IRS over the next two years to nondefense programs.

These funding challenges pose obstacles amid the agency’s efforts to modernize operations and streamline taxpayer services. 

The IRS, despite improvements, grapples with the lingering specter of funding reductions that might impact its ability to deliver seamless tax administration.

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