This article is an excerpt from a Tax Briefing initially published in CCH® AnswerConnect. Download a PDF of the full Tax Briefing below, or sign up for complimentary access to CCH AnswerConnect.
Tax & AccountingApril 20, 2023
2023 Post-filing season update
2023 Tax filing season ends; all eyes on Strategic Operating Plan
After years of pandemic-related issues plaguing the Internal Revenue Service (with some backlog issues still lingering), the 2023 tax filing season was a relatively quiet one, with the biggest news coming as the season drew to a close – the release of the Strategic Operating Plan that reveals how the agency will spend the nearly $80 billion allocated to it by the Inflation Reduction Act of 2022.
The generally quiet tax season also saw the release of green energy tax-related guidance, both for buildings and vehicles, as well as a new program for service industry workers to report tips and guidance on excise taxes for corporate stock buybacks.
Strategic Operating Plan
The Strategic Operating Plan was released April 6, 2023, after missing the deadline for its release as outlined in the Inflation Reduction Act of 2022, but the delay was presumably due to the transition of leadership at the IRS, with Daniel Werfel officially sworn in on April 4, 2023, after being confirmed by the Senate on March 9, 2023.
To continue reading, download the full seven-page Tax Briefing by completing the form below.
Complete the form to download the full Tax Briefing:
Related Insights
-
WebinarLegalTax & AccountingNovember 19, 2024
Pillar 2 Developments: Views From the OECD, EU and More
Join Wolters Kluwer's webinar on OECD Pillar 2 rules, featuring expert discussions on global and EU impacts. -
ArticleTax & AccountingNovember 19, 2024
Winning strategies for tax service bureau success
Operating a successful tax service bureau can be a rewarding experience. Read our new eBook to learn steps for success. -
ArticleTax & AccountingNovember 14, 2024
Elevating audit quality: The impact of data analytics and visualization
This article explores the significance of audit data analytics, highlighting TeamMate Analytics, TeamMate Document Linker, and Strongbox. -
ArticleComplianceTax & AccountingNovember 14, 2024
Tax relief for South Dakota residents of the Cheyenne River Sioux Tribe impacted by severe storms: IRA and HSA deadlines postponed
Due to significant severe storms that took place in South Dakota in July impacting the Cheyenne River Sioux Tribe, the Internal Revenue Service has announced that affected taxpayers will receive tax relief. Certain IRA and HSA deadlines are extended.
