Tax Day 2024 and How to Get an Extension from the IRS
Tax Day is on Monday, Apr 15, 2024. Not ready to file? Submit an electronic request to the IRS for an extension ASAP!
Last week, we covered on PaycheckCity the National Taxpayer Advocate’s (NTA) recommendation that the IRS adopt and promote a Taxpayer Bill of Rights, and additionally, apply its principles to all IRS strategic planning, compliance, and taxpayer service activities. This week, PaycheckCity is sharing more of the NTA’s recommendations to Congress. Specifically, the claim that the tax system will work best if there is an application of not only taxpayer rights, but also taxpayer responsibilities.
Last week, we covered on PaycheckCity the National Taxpayer Advocate’s (NTA) recommendation that the IRS adopt and promote a Taxpayer Bill of Rights, and additionally, apply its principles to all IRS strategic planning, compliance, and taxpayer service activities. The NTA also recommended outreach and education to taxpayers so that taxpayers know and understand their rights and are enabled to avail themselves of those rights, thus nurturing trust in our tax system.
This week, PaycheckCity is sharing more of the NTA’s recommendations to Congress. Specifically, the claim that the tax system will work best if there is an application of not only taxpayer rights, but also taxpayer responsibilities. The National Taxpayer Advocate recognizes the relationship between the government and its taxpayers as a social contract of sorts—The U.S. government requires its tax collector to treat taxpayers with courtesy and respect and asks taxpayers to cooperate with the tax collector. As this is a two-way relationship, the Taxpayer Bill of Rights should also contain a section outlining taxpayer responsibilities. The document would serve to heighten awareness of these rights and responsibilities among taxpayers and IRS employees alike and would lay out in clear and concise terms what taxpayers must do to comply with tax laws and what rights taxpayers possess in that process.
The Five Taxpayer Responsibilities recommended by the NTA are:
By establishing this official taxpayer charter, the IRS will show its commitment to protecting fundamental taxpayer rights. These five Taxpayer Responsibilities will also provide a valuable framework for evaluating IRS policies, programs, actions, and initiatives. What are your thoughts on the five taxpayer responsibilities recommended by the NTA?To learn more about the Taxpayer Advocate Service or the Taxpayer Bill of Rights, visit The National Taxpayer Advocate 2013 Annual Report.
Tax Day is on Monday, Apr 15, 2024. Not ready to file? Submit an electronic request to the IRS for an extension ASAP!
IRS has updated tax brackets for 2024. See how this affects your first paycheck this year!
Check out the updated 2024 Federal benefit limits for 401(k), HSA, and simple IRA, and more. Stay informed and plan your finances with confidence!