The National Taxpayer Advocate Erin M. Collins released to Congress a mid-year report noting the good things and the bad things about IRS activities as well as to make recommendations for improvement (IR-2022-129). While the IRS continues to work through a serious backlog of paper returns, she noted that as of the end of May there were still 21.3 million unprocessed paper returns (an increase of 1.3 million over the same time last year). This has delayed refunds for many individuals. She suggested that the IRS implement barcoding or other technology for paper returns to speed processing in the future.
Other issues identified by the report:
The report also lists objectives for fiscal year 2023, including include:
A statutory term describing the cost used to determine your profit or loss from a sale or exchange of property. It is generally your original cost, increased by capital improvements, and decreased by depreciation, depletion, and other capital write-offs.