The American Institute of CPAs (AICPA) has asked the IRS to act on a seemingly small but troublesome issue affecting some taxpayers. Currently, people and businesses that want to change their address with the IRS must mail paper forms. Businesses needing to change their name must submit a letter and supporting documents. Processing such requests can take weeks, and the IRS may, in the meantime, send letters to incorrect addresses. In fact, taxpayers may be assessed penalties and interest if time-sensitive notices are sent to old addresses. Refunds can also be delayed. The AICPA is proposing a fully automated electronic process that taxpayers can access quickly through their online accounts.
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