Is it just me, or is this tax season shaping up to be the Tax Season from Hell
Between the poorly implemented 'no tax on overtime' without mandatory box 14 reporting, the over-hyped 'no tax on tips', the new vehicle interest deduction with VIN reporting requirements - but no form 1098-VLI in 2025 -, and the gratuitous requirement for a Qualified Manufacturer Product Identification Number (PIN) for a credit being discontinued anyway, there's going to be a mess of calls, questions and missing information to follow up on. On top of that, many more people will be itemizing again due to the SALT deduction increase, and myriads of questions explaining why their Social Security is still being taxed, at least sorta. It is giving me flashbacks of the 2020 tax year in the winter of 2021 when we were still in semi-lockdown, the mail was weeks and weeks behind, and congress passed retroactive tax changes in mid-March, while IRS dragged its feet in extending the deadline.
I predict another wave of early retirements from tax accountants this year, similar to the post-Covid retirements.
