As you know, the 2015 tax season opens tomorrow, January 20. Last week, the IRS issued a release announcing new resources to help consumers navigate the Affordable Care Act, as well as a few changes that tax pros and consumers alike can expect to see.
Most notably, as a result of recent budget cuts, the IRS announced that they anticipate longer wait times and are encouraging the use of their self-help tools on IRS.gov, rather than calling the IRS directly. As a result, we have ramped up our support staff so that we will be available to help you.
The IRS also announced that the budget cuts have resulted in a smaller staff to process paper returns, so those taxpayers who file paper returns can expect to wait a little longer to get their refund. Despite the requirements for preparer e-file, it’s unlikely that you file many paper returns for your clients. For those that do, we recommend that you set expectations with them around the timing delays.
Finally, the IRS release focused on taxpayer information around the Affordable Care Act. You can find our helpful information on ACA here, and you can find the IRS’s ACA information at https://www.healthcare.gov/taxes/.