IRS Annual Report Released
In the IRS’s Progress Update, Fiscal Year 2020, “Putting Taxpayer’s First”, it released important statistics and Agency priorities. Here are some highlights from the 44-page report.
Tax Returns and Forms processed, $242M
Collected taxes, $3.5T
Average Refund, $2,034
Revenue from Enforced IRS Collection Actions, $51.1B
IRS hiring of internal and external employees rose by more than 100%
Issued 81M Economic Impact Payments totaling almost $147B
Released Notices informing business owners of new NOL carryback rules…