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If you've filed your 2023 tax return and want to know when you'll get your refund, the IRS has several tools available to help you track its status. When will I get my tax refund? FAQs How do I check my income tax refund status? You can get updates on the status of your refund on the IRS2Go app or the IRS "Where's My Refund" tool. You can check the status of your return and any refund 24 hours after e-filing by visiting the IRS website or IRS2GO app.

Persons: you've, you'll, TurboTax, Jackson Hewitt, filers, it's Organizations: IRS, Block, Jackson, Apple, IRS Taxpayer Assistance, CNBC, CNBC Select's, Facebook, Twitter, & $ Locations: Mobile

☆ Yellen: Republicans' IRS funding cut would hurt customer service goals
▼ + stars: | 2023-11-07 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

U.S. Treasury Secretary Janet Yellen outlines the improvements the IRS will deliver to taxpayers in 2024, during remarks at IRS Headquarters in Washington on Nov. 7, 2023. Expanded taxpayer serviceYellen said the agency made a "tremendous leap forward" during the 2023 tax filing season by significantly reducing phone wait times. "This filing season, we will build on this foundation and continue expanding services for taxpayers: by phone, online and in person," she said. By the start of the filing season, taxpayers will be able to digitally file 20 more forms, including certain business forms, she said. Limited free Direct File pilotThe IRS will also prioritize a limited Direct File pilot, available to certain taxpayers in 13 states to file federal returns for free, Yellen said.

Persons: Janet Yellen, Kevin Lamarque, Yellen Organizations: Treasury, IRS, Reuters, Assistance Centers Locations: Washington

A W-2 tax form is a type of informational form that's essential for completing your tax return. If you haven't received your W-2 by mid-February 2024, there are a few simple steps to take to ensure you have it in time to meet the April 15 tax deadline. How can I get my W-2 online? The easiest way to get a copy of your W-2 online is to ask your employer and/or payroll provider. Search your email account for "tax form is ready" or "tax form available for download" along with the name of the payroll provider.

Persons: —, haven't, Riley Adams, Sallie Mullins Thompson, hasn't, Adams, it's Organizations: Service, Social Security Administration, Internal Revenue Service, Employers, Social, IRS, Taxpayer Assistance Center, Chevron, Taxpayer Assistance Locations: Louisiana, New York, Chevron

☆ Deductions for megamansions and Ferraris: The IRS details tax dodges by the ultra-wealthy and says it recently squeezed 100 millionaires for $122 million in missing taxes
▼ + stars: | 2023-10-20 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

There's more enforcement to come, thanks to the Inflation Reduction Act. The passage of the Inflation Reduction Act infused billions of dollars into the previously perpetually underfunded and paper-laden IRS. "Inflation Reduction Act funding gives us the ability to take swift and aggressive action to improve compliance and close the tax gap." Since the passage of the IRA, the IRS has closed several cases of high-earning taxpayers getting creative with their business expenses and deductions. The IRS is specifically taking aim at Americans who earn over $1 million, and have over $250,000 in tax debt.

Persons: it's, —, Daniel Werfel, That's, Werfel Organizations: IRS, Service, dodgers, Ferrari, Bentley, Lamborghini Locations: COVID

☆ Mexico sees similar economic growth next year, more help for Pemex
▼ + stars: | 2023-09-09 | by ( Ana Isabel Martinez | ) www.reuters.com time to read: +3 min

A draft seen by Reuters had forecast 2024 economic growth at 2.4%, below the final published figure. The 2024 budget will now be debated by lawmakers in Congress, where the ruling coalition of President Andres Manuel Lopez Obrador commands majorities in both chambers. The key 2024 oil price is used to estimate a large amount of government revenue. State oil company Pemex's overall budget will be cut 36%, according to the draft budget from 2023 funding levels. The draft budget projects those costs will dip next year by about 4.75 billion pesos ($270 million), or down by 7.6% in inflation-adjusted terms.

Persons: Mexico's Finance Ministry Rogelio Ramirez de la, Raquel Cunha, Andres Manuel Lopez Obrador, Ana Isabel Martinez, Carolina Pulice, Sarah Morland, Stephen Eisenhammer, Chizu Nomiyama, Leslie Adler, William Mallard Organizations: Mexico's Finance Ministry, REUTERS, Reuters, DUC, Thomson Locations: Mexico City, Mexico, MEXICO, Brazil

☆ AmeriCorps recovers record $84 million in tax breaks for low-income taxpayers
▼ + stars: | 2023-07-17 | by ( Justin Gamble | ) edition.cnn.com time to read: +2 min

CNN —AmeriCorps recovered a record $84 million in overlooked deductions, credits and tax breaks for low-income Americans in the 2023 tax season, the federal agency announced Friday. AmeriCorps annually teams up with local non-profits to ensure low-income taxpayers receive all tax breaks and credits for which they are eligible. Last year, the organization recovered about $14 million for taxpayers AmeriCorps spokesman Jonah Bryson told CNN. Atalay Sergi, the Director of the AmeriCorps Seniors program said over 1,890 volunteers joined in the effort to provide tax preparation services. “The volunteers generated more than $69 million in 2022 tax returns, creating a value of $36,721 per AmeriCorps Seniors volunteer,” Sergi said.

Persons: Bill Clinton, Jonah Bryson, “ We’ve, Michael D, Smith, Nathan Davis, ” Davis, Atalay Sergi, ” Sergi Organizations: CNN, AmeriCorps, Mile, AmeriCorps Seniors, Seniors Locations: America, Colorado

☆ U.S. IRS to hire nearly 20,000 staff over two years with $80 bln in new funds
▼ + stars: | 2023-04-07 | by ( David Lawder | ) www.reuters.com time to read: +4 min

[1/2] Signage is seen at the headquarters of the Internal Revenue Service (IRS) in Washington, D.C., U.S., May 10, 2021. But a significant portion of these new hires will replace the nearly 12,000 IRS employees expected to retire over the next two years -- including more than 4,700 enforcement staff, a U.S. Treasury official said. Those audit targets include wealthy individuals, corporations and complex partnerships, which have grown in number while IRS audit staff has shrunk by nearly half over the past decade, new IRS Commissioner Danny Werfel told reporters. REPUBLICAN BACKLASHThe plan drew fresh complaints from Republicans who want to repeal the IRS funding as part of their demands for raising the $31.4 trillion federal debt ceiling. He said that the percentage of Criminal Investigation staff would not change from its current proportion of about 3% of the IRS workforce.

☆ US IRS to hire 30,000 staff over two years as it deploys $80 bln in new funding
▼ + stars: | 2023-04-06 | by ( David Lawder | ) www.reuters.com time to read: +2 min

Including those new employees, customer services hiring will total 13,883 full-time-equivalent staff over the two-year period, according to the 148-page plan. But a significant portion of these new hires will replace the nearly 12,000 IRS employees expected to retire over the next two years -- including more than 4,700 enforcement staff, a U.S. Treasury official said. The $80 billion in new funding from last year's climate-focused Inflation Reduction Act is aimed at rebuilding the agency's audit capabilities and 1960s-era computer technology after a decade of funding cuts mostly by Republican-controlled Congresses. The Treasury has used estimates as high as $400 billion over the decade, with higher collections beyond the 10-year budget window. The agency's ability to deploy new technology to automate many functions would help dictate future staffing needs, he said.

☆ Tax season starts with boosted IRS workforce, new technology as agency begins to deploy $80 billion in funding
▼ + stars: | 2023-01-23 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Tax season kicked off for individual filers Monday with a bigger IRS customer service team and enhanced technology as the agency begins to deploy its nearly $80 billion in funding. Over the past several months, the IRS has hired 5,000 new customer service staff, aiming to "significantly increase" the number of answered calls, Deputy Secretary of the Treasury Wally Adeyemo told reporters Friday. IRS service was flagged as one of the agency's "most serious problems" in the National Taxpayer Advocate's 2022 annual report, with only 13% of callers reaching live assistance during the 2022 filing season. The agency also plans to improve customer service through technology, including the ability for filers to respond to certain IRS notices online and for the IRS to scan paper returns. "These improvements showcase how we are modernizing both technology and customer service to bring the IRS into the 21st century and how the IRS plans to deploy [Inflation Reduction Act] resources in the years to come," Adeyemo said.

☆ Analysis: Southwest got billions of dollars in taxpayer aid. Why is its service still a mess?
▼ + stars: | 2022-12-28 | by ( Alicia Wallace | ) edition.cnn.com time to read: +10 min

Southwest Airlines received more than $7 billion from that program. However, analysts say, Southwest’s service meltdown is unrelated to the taxpayer assistance the airline received in 2020. Cancelled Southwest Airlines flights are seen on the flight schedules at LaGuardia Airport, Tuesday, Dec. 27, 2022, in New York. In April 2020, airline passenger traffic plummeted 96% and stayed 60% below 2019 levels in 2020, according to the US Government Accountability Office. “The problems at Southwest Airlines over the last several days go beyond weather,” she said in a statement.

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