The U.S. Internal Revenue Service has announced that taxpayers will have the convenience of electronically submitting all their tax documents for the 2024 tax season, and it hopes to go completely paperless by 2025.
The initiative, which was announced Wednesday, is an effort by the IRS to"eliminate up to 200 million pieces of paper" they receive annually.
The initiative's goal is to go paperless by converting all paper tax returns to digital documents by the 2025 tax season and reducing the agency's $40 million annual expense on storing over 1 billion historical documents, as stated by the Treasury. It's a part of the Inflation Reduction Act, which allocates $80 billion to the IRS over ten years to enhance technology and tax processing.
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