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IRS Releases 2014 Data Book

On March 24, the IRS released its annual data book to the public. The report covers reporting data from October 1, 2013 to September 30, 2014. The book covers information about returns filed, taxes collected, enforcement and the IRS budget. Trends highlighted in the book illustrate the increased use of online resources by taxpayers and decreased use of telephone conferences. Also of importance is the decreased number of audits during the 2014 fiscal year.

While the IRS collected $3.1 trillion in tax revenue, it also issued $330 billion in refunds during the period and examined only one percent of all filed returns. Of the returns the Service examined, only three percent actually led to additional refunds being issued. Additionally, according to IRS Commissioner John Koskinen, “Fiscal Year 2014 marked the fourth consecutive year IRS appropriations were reduced.” The decreased budget led to a greater emphasis by the Service on electronic assistance and filing. Due to another budget decrease for 2015, the IRS will likely continue the same trends seen in 2014.

alliantNational, alliantgroup’s national practice, provides subject matter expertise on complex and emerging federal, state and international tax issues as well as legislative and regulatory affairs to help businesses receive timely and precise guidance on all their tax matters. Contact us today to learn how your business can benefit from alliantgroup’s tax consulting services.

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Contact our team today with any tax controversy concern you’re facing. We fight every day to protect the interests of the taxpayer, and we look forward to putting you in the best tax situation possible.

GET STARTED

Contact our team today with any tax controversy concern you’re facing. We fight every day to protect the interests of the taxpayer, and we look forward to putting you in the best tax situation possible.

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