Tax season started January 24th and the IRS has had 13 million to date filed tax returns.
The IRS is asking taxpayers to get their tax returns in as soon as possible. They are estimating a 21 day refund disbursement after e-filing, but how can this be true when nearly 24 million taxpayers have been waiting months for the past two years for refunds! To help speed up the process the IRS has created a new “surge team” to help with the massive backlog of unprocessed tax returns and refunds.
The pandemic, budget cuts, employee shortage and outdated computer processing equipment has caused backlogs from the past two years that, coupled with limited funding and an extra workload from stimulus programs, are making the current tax season even busier than usual. The National Taxpayer Advocate Erin Collins told a Senate committee Thursday that in addition to the surge team, the IRS is outsourcing some basic functions to help the agency finalize refunds more quickly.
The IRS said it is “exploring every avenue to help reduce the inventory of tax returns while working to have a strong filing season.” However, this tax season is still going to be a challenge and those 21 day promised refunds will probably be a broken promise for some taxpayers. The relief is knowing that they are expanding the work force to try and make things happen more timely. The best thing for all taxpayers looking for a refund from any year is to have patience as the unusual tax season unfolds.
Lavestia Gaston – Harper, Macc
Tax Accountant/ Registered Investment Advisor
Global Tax Express, Accounting and Financial Services
Intervest International Equities Corporation
6791 Hwy 305 Olive Branch, MS 38654