WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’?

 

And so it begins – the 2026 tax filing season (for 2025 returns).  I am glad I am retired!

* Did you hear – “National Taxpayer Advocate delivers Annual Report to Congress; finds taxpayer service was strong in 2025 but foresees challenges for taxpayers who encounter problems in 2026”.

One item of note that could cause issues with processing and reviewing 2025 returns (highlight is mine) –

“The IRS started 2025 with about 102,000 employees and finished with about 74,000, a reduction of 27%. Reductions were made in virtually all IRS functions, including Taxpayer Services. . .”

All thanks to the deplorable and despicable so-called Department of Government Efficiency (DOGE) and convicted felon and indicted traitor Trump.

* NATP tells us, “IRS releases FAQs on Executive Order 14247 payment modernization” and provides a summary.

While refunds requested on 2025 returns will be issued via direct deposit –

“For now, mailed payments to the IRS, including checks and money orders, will still be accepted and processed.”

* From the instructions for the 2025 Form 5695 (highlight is mine) -

“Beginning January 1, 2025, if you are claiming the energy efficient home improvement credit for specified property placed into service in 2025, you must include the four-character alphanumeric unique qualified manufacturer identification number (QMID) for each item.”

This number should be provided by the seller of the item.

* The New Jersey 2025 PAS-1 property tax relief application and instructions are now available at the NJ Division of Taxation website.

* The 2025 PA state income tax forms and instructions are finally available online.

TTFN