IRS Plans To Make All Taxpayer-Filed Documents Paperless By 2025

The Internal Revenue Service is making progress as it moves towards digitizing most taxpayer-filed documents by 2025. The IRS said taxpayers will be able to electronically file an additional tax 20 forms this year and another 150 of the most-used documents by 2025.

The documents will be accessible on mobile phones for taxpayers who may not have access to broadband internet at home.

The agency said that the Paperless Processing Initiative will eliminate over 200 million pages of paper every year and drastically cut the time needed to process returns.

The IRS estimates the change to electronic forms could cut processing times in half and result in taxpayers getting their refunds several weeks earlier. In addition, the Treasury Department said that the IRS will save around $40 million a year in storage costs by digitizing around one billion documents.

While the tax forms will be available online, officials expect that around 76 million people will still file their taxes using paper returns and forms. The agency said that those forms will be digitized immediately, and the paper will be recycled.