Louisiana taxpayers can start filing state taxes on Jan. 29

11 Enero, 2018, 00:58 | Author: Arnold Perez
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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".

While the IRS said it expects to issue the vast majority of refunds within 21 days of a return being filed, there are some exceptions.

The Senate's FY 2018 Financial Services spending bill would provide $11 billion for the IRS.

USA Today reported that last year's budget for the IRS budget was $11.2 billion, but that Congress still has not set funding levels for federal agencies, even though the current fiscal year began on October 1.

The IRS has estimated it will need some $495 million in the next two fiscal years to implement the law, which will include programming and systems updates, answering calls, revising regulations, and training employees, Ms. Olson wrote. "But with more funding, strong leadership, and a closer working relationship with Congress, I am convinced the IRS can do the job well".

"'Shortcuts" have become the norm, and "shortcuts' are incompatible with high-quality tax administration", Ms. Olson wrote.

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There are 131 filing systems that will be affected by the new law, the report said.

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 Louisiana Department of Revenue will start to accept individual state income tax returns Friday, January 29.

Whether the IRS gets additional funding remains a question. Some issues have already arisen, such as taxpayers trying to prepay property taxes before December 31 so it would not be subject to a new $10,000 cap on the deduction.

"John's sentencing today will punish him for cheating the government and defrauding his clients and the tax-paying public", said Assistant Special Agent in Charge Ramsey Covington of IRS-Criminal Investigation.

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