Patrick Malloy, Director of Tax, offers his insight to Barron’s as we head into tax season, highlighting a focus on limiting processing delays for clients and recognizing that some filers in certain federally declared disaster zones may benefit from automatic penalty relief and extensions of time to file tax returns and pay taxes:
“There’s certainly a lot of noise right now around the tax world, with looming tax law changes, budgetary concerns and decreased staffing within the Treasury Department. But I don’t see these factors impacting the 2024 filing season, at least right away. Decreased IRS staffing shouldn’t impact your ability to electronically file your 2024 return. We’ll see how the layoffs affect wait times on the phone, or if there are delays processing paper returns, but it’s unclear where and when the effects will be felt.”
Subscribers can read the full article here.