The 2020 tax filing season has been like no other, with the IRS taking “unprecedented and drastic” actions in response to the COVID-19 pandemic. This assessment comes from a recent Treasury Inspector General for Tax Administration (TIGTA) audit detailing the interim results of the 2020 tax filing season. The audit looked at the processing of Economic Impact Payments (EIPs), the status of advanced tax credits for employers and the processing of paper tax returns among other things. The audit showed that the IRS issued more than 157 million EIPs totaling more than $264 billion, as of May 21, 2020. Read the audit report here: https://bit.ly/3etyLIc Call or visit our website for more information! www.mjscpa.com/
