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The Internal Revenue Service (IRS) is set to revolutionize the 2023 tax season, promising a host of enhancements to make the process smoother and more user-friendly. Marking January 29 as the start date for accepting and processing 2023 tax returns, the IRS has laid a roadmap for an improved experience for the nearly 129 million individual taxpayers expected to file by the April 15 deadline.

Here’s a closer look at the IRS’s new and expanded tools and resources:

  1. Customer Support Overhaul: Taxpayers can look forward to increased assistance on the toll-free line and a revamped customer call-back feature to slash wait times and ensure a more efficient experience.
  2. Where’s My Refund? Tool Upgrade: The popular Where’s My Refund? The tool receives a facelift, providing taxpayers with more detailed and easily understandable refund status messages in plain language and enhancing transparency in financial transactions.
  3. Paperless Processing Revolution: To achieve sustainability and convenience, taxpayers can now submit all correspondence, non-tax forms, and responses to notices digitally. The IRS aims to process up to 125 million paper documents electronically yearly.
  4. Revamped IRS Individual Online Account: The IRS Individual Online Account has undergone a comprehensive makeover, now boasting a chat feature, the option to schedule and cancel future payments, revise payment plans, and validate and save bank accounts.
  5. Direct File Pilot Service Unveiled: A game-changer for eligible taxpayers, the Direct File pilot tax filing service offers free online filing of 2023 federal tax returns. Rolling out in phases, it is expected to be widely available by mid-March.

IRS Commissioner Danny Werfel expressed confidence in the transformative efforts underway, assuring taxpayers that the new funding is dedicated to making the tax preparation and filing process more user-friendly.

While most refunds are processed in under 21 days, taxpayers claiming the earned income tax credit (EITC) or additional child tax credit (ACTC) may experience a slightly longer wait. This delay, mandated by the 2015 Protecting Americans From Tax Hikes Act, allows the IRS to diligently review returns for potential fraud before issuing refunds.

Don’t miss these critical dates on the tax season calendar:

  • Friday: IRS Free File opens, allowing participating software companies to accept completed tax returns and hold them until electronic filing with the IRS is available.
  • February 27: Most EITC/ACTC-related refunds are expected to hit taxpayer bank accounts or debit cards for those opting for direct deposit, assuming no other issues with their tax return.
  • April 17: Due date for Maine and Massachusetts.
  • October 15: Due date for extension filers.

As taxpayers gear up for the upcoming season, these innovations and important dates promise to redefine the tax filing experience. Get ready for a tax season like never before!

Source ( Journal of Accountancy News).