IRS Accelerates Paperless Initiative, Targets Full Digitization by 2025

The IRS plans to digitize all taxpayer documents by 2025, with the goal of achieving paperless processing for all tax returns. This move aims to cut processing times, expedite refunds, simplify access to taxpayer data, and save money on document storage. The digitization process will also help eliminate errors and provide faster customer service. Additionally, the IRS's improved data platform will aid in detecting tax evasion by wealthy individuals and large corporations. The move towards paperless processing is supported by tax professionals and accountants, who believe it will lead to reduced processing times and better experiences for taxpayers. However, budget cuts could hinder the digitization process and impact customer service. Recent technology investments will also enhance data security and ensure the protection of taxpayer data.