Tax returns for the 2021 tax year are beginning to be accepted and processed by the Internal Revenue Service on Monday.
Taxpayers are encouraged to make direct deposits by filing electronically with the IRS.
Generally, refunds will be received by taxpayers around 21 days after they file.
Taxpayers have until Monday, April 18, to file their returns.
This tax season will be different from other tax seasons – particularly after the COVID-19 pandemic has been confirmed.
Wendy Barlin, a CPA, tax strategist, and professional speaker, disclosed to CBNS that tax season is different from past ones “because a lot of people got their child tax credit money early over the last few months,”
“And now they’re going to have to put those numbers on the returns and perhaps get a little less of a refund which is going to surprise some people.” Wendy continued.
Over 10 million unprocessed tax returns occurred last year.
Speaking on what delays taxpayers might get if they file on paper or even if they file electronically and have more complicated taxes, Wendy said,
“Well if you have a complicated tax there’s a chance are you gonna file a little later but for the people who have simple returns file now file when they open I think burdens is gonna get their money out quickest.”
“So I really recommend if you have your documents together go ahead and get filed now,” she continued.
A facial recognition technology that the IRS has started to implement is expected to be online as soon as the summer.
Though this technology is highly valued but has raised some concerns among Americans, including Wendy.
“Well, for me, I think anything we can do to secure our data [is] great stuff.”
“I am a little concerned about diverting resources when really we need to get people tax returns process.”
Wendy later speculated that the technology will be out in the summer period.
“I hope this will be rolled out in the summer,” Wendy added.