{"id":20531,"date":"2023-08-02T15:27:22","date_gmt":"2023-08-02T15:27:22","guid":{"rendered":"https:\/\/www.thinkadvisor.com\/2023\/08\/02\/irs-to-digitally-process-all-tax-returns-by-2025\/"},"modified":"2023-08-02T15:27:22","modified_gmt":"2023-08-02T15:27:22","slug":"irs-to-digitally-process-all-tax-returns-by-2025","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2023\/08\/02\/irs-to-digitally-process-all-tax-returns-by-2025\/","title":{"rendered":"IRS to Digitally Process All Tax Returns by 2025"},"content":{"rendered":"
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Taxpayers, of course, \u201cwill always have the choice to submit documents by paper,\u201d Yellen said.<\/p>\n

By the 2025 filing season, the IRS \u201cis committing to digitally process 100% of tax and information returns that are submitted by paper \u2014 as well as half of all paper correspondence, non-tax forms, and notice responses,\u201d Yellen continued, as well as \u201cdigitalize historical documents that are currently in storage at the IRS.\u201d<\/p>\n

The agency, according to Yellen, \u201creceives about 200 million paper documents a year \u2014 many of which still undergo manual processing. It also has decades of historical documents that together cost around $40 million a year to store.\u201d<\/p>\n

The paperless processing initiative will also unlock \u201cother customer service improvements,\u201d Yellen stated, allowing \u201ctaxpayers to see their documents, securely access their data, and save time and money.\u201d<\/p>\n

Other parts of the IRS will be able to \u201crely on these digital copies to provide faster refunds, reduce errors in tax processing, and deliver a more seamless and responsive customer service experience. And much more,\u201d Yellen continued. She urged Congress to provide stable and sufficient annual appropriations for the IRS in order to sustain and build on this progress.<\/p>\n

By the 2024 tax filing season, the IRS said taxpayers will be able to:<\/p>\n

    \n
  • Digitally submit all correspondence, non-tax forms, and responses to notices. As a result, the IRS estimates \u201cmore than 94% of individual taxpayers will no longer ever need to send mail to the IRS.\u201d<\/li>\n
  • Use non-tax forms to request or submit information on a range of topics, including identity theft and proof that they are eligible for key credits and deductions to help low-income households. This will allow \u201cup to 125 million paper documents to be submitted digitally per year.\u201d<\/li>\n
  • E-File 20 additional tax forms, which will enable up to 4 million additional tax documents to be filed digitally every year.<\/li>\n
  • Access at least 20 of the most used non-tax forms in digital, mobile friendly formats that make them easy for taxpayers to complete and submit.<\/li>\n<\/ul>\n

    By the 2025 tax filing season, the IRS stated, it will:<\/p>\n

      \n
    • Make available an additional 150 of the most used non-tax forms in digital, mobile-friendly formats. An estimated 15% of Americans rely solely on mobile phones for their internet access.<\/li>\n
    • Digitally process all paper-filed tax and information returns. This will enable up to 76 million paper documents to be processed digitally every year, improving service, cutting processing times in half, and expediting taxpayer refunds by several weeks.<\/li>\n
    • Process digitally half of paper-submitted correspondence, non-tax forms, and notice responses. This will allow up to 60 million paper documents to be processed digitally every year. All paper documents \u2014 correspondence, non-tax forms, and notice responses \u2014 will be processed digitally by the 2026 filing season.<\/li>\n
    • Digitize up to 1 billion historical documents, giving taxpayers access to their data, and ultimately saving the IRS about $40 million in annual storage costs.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

      Taxpayers, of course, \u201cwill always have the choice to submit documents by paper,\u201d Yellen said. By the 2025 filing season, the IRS \u201cis committing to digitally process 100% of tax and information returns that...<\/p>\n","protected":false},"author":1,"featured_media":20532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2023\/08\/irs-to-digitally-process-all-tax-returns-by-2025.jpg","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20531"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=20531"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20531\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/20532"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=20531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=20531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=20531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}