In the news this week: the IRS kicks off the 2023 filing season, what's new in QuickBooks Online®️ for January 2023, a new round of Woodard advisory classes starts in February, and info on the Intuit Annual Stockholders' meeting. Read on to get the inside scoop on the news you care about!
IRS Officially Kicks Off the 2023 Filing Season on January 23, 2023
In a press release from January 13, 2023, the Internal Revenue Service said that the 2023 tax season will start on Monday, January 23, 2023, when the agency will start getting and processing tax returns for the 2022 tax year.
It is anticipated that over 168 million individual tax returns will be filed, most of which will be submitted before the April 18 tax deadline. The tax filing deadline has been extended because of the weekend and the District of Columbia's Emancipation Day holiday, which falls on Monday, April 17. Taxpayers requesting an extension will have until Monday, October 16, 2023, to file.
Since the Inflation Reduction Act was signed into law in August, the IRS has hired more people to work in person and more than 5,000 new people to help taxpayers over the phone.
"This filing season is the first to benefit the IRS and our nation's tax system from multi-year funding in the Inflation Reduction Act," said Acting IRS Commissioner Doug O'Donnell. "With these new additional resources, taxpayers and tax professionals will see improvements in many areas of the agency this year. We've trained thousands of new employees to answer phones and help people. While much work remains after several difficult years, we expect people to experience improvements this tax season. That's just the start as we work to add new long-term transformation efforts that will make things even smoother in future years. We are very excited to begin to deliver what taxpayers want and our employees know we could do with this funding."
The IRS will start accepting returns on January 23, but it won't be able to give out refunds that include the EITC or ACTC until around the middle of February.
Check the IRS Operations page for the most up-to-date information on where tax returns from 2022 stand.
What's New in QuickBooks Online - January 2023
Intuit published its monthly "What's New" article on its Firm of the Future website and has rolled out a new QuickBooks Updates website you can share with your clients. Many of these new features were announced at the QuickBooks Connect conference in Las Vegas last month, but there are also some new goodies to learn about.
Below is a summary of new features announced in the article:
Your Feedback in Action
"Your feedback in action" is a new article series dedicated to sharing the most relevant product enhancements, updates, and changes based on your feedback to Intuit. It will inform you about business decisions that guide the QuickBooks Online product, as well as platform strategies and priorities, and information about events where you can learn more about the decisions made and share your feedback directly with leaders across the QuickBooks Online platform.
In this edition, see the five key areas of innovation Intuit® is focusing on, as shared at QuickBooks Connect.
Woodard Advisory Classes Start The First Week of February 2023
The next round of Woodard advisory classes will kick off the first week of February to its members. The course offerings include 10-week, 4-week, and 1-day options and are included in all Woodard membership levels.
The popular and impactful "The Ideal Practice" course begins on February 7, 2023 and is the foundational course in the Woodard Practice Advancement curriculum, designed to help you design and implement the practice you've been dreaming about but haven't quite made a reality. During this 10-week live, instructor-led course, you will examine seven areas of your practice to identify gaps, assess current status against defined ideals, and lay out a prioritized, strategic execution plan. The course is for all-size firms from solo-practitioners to small firms, to client accounting service (CAS) divisions in larger CPA firms.
Other popular courses include:
One Note - February 9th, 2023 (1 Day)
The Ideal Practice - February 7th, 2023 (10 Week)
Operational Advisory - February 8th, 2023 (10 Weeks)
Management Advisory - February 8th, 2023 (10 Week)
Strategic Pricing - February 8th, 2023 (4 Week)
Financial Measurements - March 2nd, 2023 (1 Day)
To sign up for courses, you must be a member of Woodard, learn more about becoming a Woodard member.
Intuit to Hold its Annual Stockholder Meeting on January 19, 2023
January 12, 2023
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Intuit Inc. (Nasdaq: INTU), the global technology platform that makes TurboTax, Credit Karma, QuickBooks, and Mailchimp, will hold its annual stockholder meeting virtually on Thursday, January 19 at 8 AM Pacific time (11:00 AM Eastern time).
Sasan Goodarzi, Intuit’s chief executive officer, will review the company's fiscal year 2022 results and discuss the company’s strategy for growth.
The meeting will be webcast live on Intuit’s website at https://investors.intuit.com/events-and-presentations/default.aspx. A replay of the webcast will be available approximately 24 hours after the meeting ends.