Episode 133: IRS Shutdowns, E‑Filing Mandates, and Refund Changes

In this episode:  IRS electronic filing systems are closed until January 26, delaying returns and refunds. Some state tax forms won't be ready for filing until late February. IRS staffing shortages are causing longer response times across the board. Paper filing and paper checks are being phased out in favor of electronic methods. New deductions and credits under recent legislation may increase refund amounts. Employers must follow updated guidance when reporting 2025 overtime on W-2s. Identity theft during tax season is increasing; IRS Identity Protection PINs can help. New rules impact charitable donations of non-cash items and vehicle contributions. A proposed bill could increase the capital gains exclusion on home sales. E-filing and online payments are now required for many taxpayers and businesses. Extensions are common and often necessary when waiting on corrected or delayed tax documents. Form 1099 filing must be completed by January 31, with e-filing required if over 10 forms are issued.