A Useful Bill from Congress?

Apparently, hell hath froze over, because Congress actually put forth a useful bill concerning the IRS - one that requires the IRS to provide more information when recalculating a supposed error concerning a taxpayer’s return.

It’s called the “IRS Math and Taxpayer Help Act of 2024” with the goal of simplifying the understanding of IRS adjustments on taxpayer’s returns.

Currently, when there is an error on a return, the IRS provides multiple possibilities for why the adjustment is occurring, instead of pointedly describing what they believe the error is, and the adjustment that’s associated with that perceived error. Seems like they should have been doing it that way all along, but better late than never?

I always say - make compliance SIMPLE. The more simple it is, the more likely people are to comply. My clients absolutely freak out whenever they get a letter from the IRS, and I don’t blame them because the letters aren’t always clear, especially ones involving adjustments. So any changes that make this process less painful and more clear for taxpayers and their professionals, is a win in my book.

Source: Mad Woman Media