ALBANY, N.Y. (WTEN) – The city of Albany is preparing for a snowstorm. The Internal Revenue Service (IRS) has issued a warning about refund delays ahead of what they expect to be a “frustrating” filing season for not just American taxpayers, but also for professional filers, according to their forecast.
Those words may seem familiar, and you are not mistaken.
In the same way, last year, taxpayers received similar warnings, with those who had submitted their 2020 tax returns in February still wondering, “Where is my refund?” Several preparers spoke to Nexstar’s WTEN four months after the event.
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Some tax preparers, who have been in the business for many years, said that they had never seen such lengthy delays from the IRS.
Last June, Chris Tretter, CPA, P.C., told WTEN that “approximately 1-2 percent of federal returns we submitted are experiencing an excessive delay in the distribution of the refund with no reason from the IRS.” “The same thing occurred last year,” says the author. Before the epidemic, I had never seen anything like that.”
Last year, communicating with the Internal Revenue Service (IRS) proved tough, further complicating the difficulty. It was a difficult experience for taxpayers, and it was much more irritating for tax preparers who were fielding calls from consumers and attempting to obtain answers from the IRS.
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In the opinion of Certified Financial Planner Ed Canty, delays were seen in the processing of both federal and state tax returns, with particularly high wait times for more difficult forms incorporating issues such as numerous sources of income, unemployment, and rental property.
Unfortunately, it is possible that there could be further delays this year.
The Internal Revenue Service has been straining to keep up. As of the beginning of this tax season, the IRS had more than 18 million unprocessed returns and correspondence, totaling more than 23 million items in its backlog, according to U.S. Sen. Mike Crapo (R-Idaho), a member of the United States Senate Finance Committee, who spoke at a hearing on customer service issues within the IRS on Feb. 17.
An advocate cautions that the IRS is “buried” in paper and that returns may be delayed as a result.
In 2021, more than 250 million calls were unanswered at the IRS, and those who did get through spent an average of more than 23 minutes on hold waiting for a person, according to Sen. Crapo. According to all indicators, the 2022 tax filing season is shaping up to be the most difficult and irritating in decades, after the similarly difficult 2020 and 2021 filing seasons. In 2021, little more than one in every ten Americans was able to contact the Internal Revenue Service through telephone.”
- According to the IRS, the vast majority of individuals who file online will get their refunds within 21 days assuming their claims are valid.
- Tax season is upon us, and here are five things you should be aware of.
- Simplifying and streamlining the refund procedure
The Internal Revenue Service (IRS) advised citizens to do the following to expedite the processing of tax returns and the issue of refunds:
- To get your return as quickly as possible, file online utilising direct deposit.
- Visit IRS.gov for the most up-to-date tax information, including information on Economic Impact Payments.
- Review the rules for the Recovery Rebate Credit in great detail.
- Advance stimulus payments received separately are not taxable, and they do not diminish the amount of a taxpayer’s return when they submit their taxes the following year.
There are many reasons why a refund may take longer than 21 days to process:
- A number of mistakes were made, such as inaccurate Recovery Rebate Credit information.
- The return is missing some information.
- In general, the return should be given another look.
- The return has been harmed as a result of identity theft or fraud.
- Included in this return is a claim for an Earned Income Tax Credit (EITC) or an Additional Child Tax Credit (ACTC).
- The return contains a PDF version of Form 8379, Injured Spouse Allocation PDF, which might take up to 14 weeks to complete *Source: Internal Revenue Service website.
Tax season has officially begun, and the Internal Revenue Service (IRS) Commissioner Chuck Rettig stated, “Planning for the nation’s filing season process is a massive undertaking, and IRS teams have been working nonstop to prepare for this as well as deliver Economic Impact Payments in record time.” “This start date will guarantee that consumers get their required tax refunds as promptly as feasible, as well as any remaining stimulus payments for which they are entitled, as soon as possible,” says the IRS.