According to Accounting Today, the IRS destroyed about 30 M paper-filed information returns in March 2021 due to its inability to process them.
Questions:
- What does the IRS typically use the information returns for?
- Since 2014, what has been the overall percentage increase of business tax returns that are e-filed?
- In 2018, what was the difference in the amount reported by the Treasury Inspector General for Tax Administration (TIGTA) for processing spent for paper filings versus electronic filings?
Source:
Cohn, M. (2022). IRS destroyed 30M paper information returns due to backlog. Accounting Today, May 9 (Retrievable online at https://www.accountingtoday.com/news/irs-destroyed-30m-paper-information-returns-due-to-backlog)