Ticker: IRS says January 29 official start of tax season; Tiger Woods, Nike end partnership
The IRS on Monday announced January 29 as the official start date of the 2024 tax season, and expects more than 128.7 million tax returns to be filed by the April 15 tax deadline.
The announcement comes as the agency undergoes a massive overhaul, attempting to improve its technology and customer service processes with tens of billions of dollars allocated to the agency through Democrats’ Inflation Reduction Act, signed into law in August 2022.
“As our transformation efforts take hold, taxpayers will continue to see marked improvement in IRS operations in the upcoming filing season,” said IRS Commissioner Danny Werfel in a news release. “IRS employees are working hard to make sure that new funding is used to help taxpayers by making the process of preparing and filing taxes easier.”
Agency leadership says this year more walk-in centers will be open to help taxpayers, enhanced paperless processing will help with IRS correspondence and enhanced individual online accounts will be available for taxpayers.
The IRS expects most refunds to be issued in less than 21 days.
Tiger Woods, Nike end partnership
Tiger Woods has gone from “Hello, world,” to saying goodbye to Nike.
Woods ended months of speculation by making it official Monday that the partnership between golf’s biggest star and the powerful Swoosh brand is ending after 27 years, a move that raises questions about the future of both in the sport.
Woods in a social media post thanked Nike co-founder Phil Knight for his “passion and vision” that brought them together when he turned pro.
“Over 27 years ago, I was fortunate to start a partnership with one of the most iconic brands in the world,” Woods wrote. “The days since have been filled with so many amazing moments and memories, if I started naming them, I could go on forever.”