IRS needs more money to implement the new tax law

Ready for tax season? What you need to know

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"It cannot answer the phone calls it now receives, much less the phone calls it can expect to receive in light of tax reform, without adequate funding". "But with more funding, strong leadership, and a closer working relationship with Congress, I am convinced the IRS can do the job well".

A man responsible for preparing tax returns has been sentenced to serve 12 months in a federal prison after he was convicted of intentionally aiding and assisting in the preparation and presentation of a false income tax return, according to the Department of Justice.

"The IRS absolutely needs more funding", National Taxpayer Advocate Nina Olson wrote in her annual report to Congress.

As if it wasn't already clear that the IRS faces challenges in implementing the new GOP tax law, a new report by the agency's independent taxpayer advocate warns just how daunting a task the agency has on its hands.

Last year's IRS budget was $11.2 billion.

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Updated printed forms will not be available until January 29.

Ms. Olson also wrote that overall, funding cuts in recent years have left the agency unable to provide acceptable levels of service, upgrade its technology, and maintain compliance programs.

The IRS excuses hardship cases from collection efforts to ensure that households can still pay for basic living expenses, but the private collectors apparently are not following those rules.

The Internal Revenue Service announced today that the nation's tax season will begin Monday, Jan. 29, 2018 and reminded taxpayers claiming certain credits that refunds won't be available before late February.

But that does not mean the IRS has a year to get up to speed. Until those tables are provided to employers and payroll companies, workers who are due to receive tax cuts won't see bigger paychecks.

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