The IRS’ filing deadline is fast approaching this year as the tax season slowly approaches too.
In a report by The Sun, tax filers will see refunds delayed significantly for 2022 due to the lingering Covid pandemic, as stated by the IRS.
On Wednesday, Erin M. Collins, the nation’s taxpaying advocate, provided Congress with a report on the most enduring problem facing taxpayers in the United States.
An important issue is a significant delay in processing tax returns and tax refunds, according to the annual report.
According to taxpayer advocates, there is “no way to sugarcoat the year 2021 in tax administration.”
“The year 2021 provided no shortage of taxpayer problems,” she explained.
“While my report focuses primarily on the problems of 2021, I am deeply concerned about the upcoming filing season.
“Paper is the IRS’s Kryptonite, and the agency is still buried in it.”
On January 24, the IRS will begin accepting a new round of individual tax filings.
Deadline for IRS Filing
April 18 will be the deadline for most taxpayers again.
Because of Patriots’ Day celebrations in Maine and Massachusetts, taxpayers in those states have until April 19, 2022.
Because of the pandemic, the IRS extended Tax Day in the last two years – setting it for May 17 in 2021 and July 15 in 2020.
Know When You Can Expect My Refund
You can expect to receive your direct deposit within 21 days if you file your taxes electronically and choose direct deposit.
File Your Taxes and Keep These Two Letters
You must keep two letters on hand, according to the IRS.
According to the agency, households will receive Letter 6475, “Your Third Economic Impact Payment,” as soon as possible.
In the release, it states: “These letters can help taxpayers, or their tax professional, prepare their 2021 federal tax return.”
In the letter, you are told how much stimulus money you will receive in 2021, including any “plus-up” payments.
The letter should be sent to 36 million families.
Letter “6419” (for child tax credit) started to be sent by the IRS in December, and it will continue to be sent until the end of this month.
The letter is expected to come in an envelope labeled “Important Tax Document.”
The letter contains details about how many eligible children received tax credits in 2021, as well as the total amount received.
Without the letters, experts have warned you could face a delay in filing your taxes.