New IRS Law on Tax Errors

A new bill addressing IRS 'math error' notifications has been sent to President Trump for approval. The legislation aims to enhance tax transparency and improve the process for taxpayers to challenge IRS notices. It mandates that the IRS inform taxpayers of any mathematical errors on their returns, providing a clearer path to dispute such findings within 60 days, thereby giving taxpayers better tools to address and correct potential errors in their tax filings.