The U.S. Internal Revenue Service has announced that taxpayers will have the convenience of electronically submitting all their tax documents for the 2024 tax season, and it hopes to go completely paperless by 2025.
The initiative, which was announced Wednesday, is an effort by the IRS to"eliminate up to 200 million pieces of paper" they receive annually.
The initiative's goal is to go paperless by converting all paper tax returns to digital documents by the 2025 tax season and reducing the agency's $40 million annual expense on storing over 1 billion historical documents, as stated by the Treasury. It's a part of the Inflation Reduction Act, which allocates $80 billion to the IRS over ten years to enhance technology and tax processing.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The IRS wants to phase out most IRL tax documents by 2025 | EngadgetMost taxpayers will have the option of going entirely paperless starting with the 2024 filing season.
Read more »
Abu Dhabi’s Twofour54 Unveils Plans To Build Production Studio By 2025Abu Dhabi-based outfit twofour54 has revealed ambitious plans to build a large-scale production studio by 2025. twofour54, which is state-owned, has said the complex will be named twofour54 Studios…
Read more »
Abu Dhabi to Build Sprawling Studio Complex by 2025Plans are underway to build a sprawling studio complex in Abu Dhabi, which is the capital of the United Arab Emirates and has served as an exterior location for portions of Hollywood franchises suc…
Read more »
VinFast Breaks Ground On U.S. Factory, Set To Begin Production In 2025 | CarscoopsVinFast's U.S. factory will build the VF 7, VF 8 and VF 9 EVs starting in 2025 car auto cars
Read more »
2025 Cadillac Escalade IQ, 2024 Nissan Z Nismo: Today's Car NewsCadillac's electric Escalade, Nissan's hardcore Z, and our Mustang Dark Horse review all made headlines today.
Read more »
Firefighters Battle 'Fire Whirls' In Massive California-Nevada BlazeThe York Fire was mapped at roughly 125 square miles on Tuesday, with 23% containment.
Read more »