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The IRS boosted taxpayer services through Democrats’ Inflation Reduction Act but still faces processing claims from a coronavirus pandemic-era tax credit program and is slow to resolve certain ...
A million tax filers are getting letters from the IRS indicating they have money coming to them because they were eligible to receive the 2021 Recovery Rebate Credit but didn’t claim it on their ...
During the COVID-19 pandemic, the IRS stopped sending reminder notices relating to taxes still owed. Now normal operations and letters are resuming.
Plus, the IRS will begin sending automated notices and letters again. The failure-to-pay penalty — usually 5% of the tax owed for each month or part of a month that the return is late, up to 25% ...
The mailed IRS notices, which should start hitting mailboxes this month, outline the amount of penalty relief received. Taxpayers can also check IRS.gov to access their tax transcripts and records.
"Taxpayers need a business purpose and a qualifying business activity such as running a farm or purchasing aviation gasoline to be eligible for the credit," the IRS said. Most taxpayers don't qualify.
The Internal Revenue Service is set to start this year’s tax-filing season on better footing than the last few years, a new report found, even as challenges from the pandemic years remain.
The IRS said the letters are being sent to those who qualify for tax benefits but did not claim them by filing a 2021 federal income tax return. IRS sends letters to millions still eligible for ...