area District Of Columbia: Last News

IRS tax return backlog swells as Americans await refunds

A view of an IRS 1040 Tax Form on a Laptop computer screen being prepared for an electronic filing. WASHINGTON - The IRS still needs to process more than 21 million paper tax returns, delaying refunds for many Americans as the agency struggles to work through the backlog, a government watchdog said this week.National Taxpayer Advocate Erin Collins said in a recent report that the agency still needs to process about 21.3 million paper returns as of May 31 – a 7% increase from this same time last year, when there were 20 million unprocessed paper returns."Unfortunately, at this point the backlog is still crushing the IRS, its employees and, most importantly, taxpayers," Collins wrote in the report.

"These processing delays are creating unprecedented financial difficulties for millions of taxpayers and outright hardships for many."Although more than 90% of taxpayers submitted their returns electronically last year at the request of the IRS, some 17 million sent paper filings, exacerbating the pile-up of returns. It is disproportionately older Americans who file their returns via mail. TAX SEASON 2022: WHERE AMERICANS SAW THE BIGGEST REFUNDS?The Internal Revenue Service (IRS) headquarters in Washington, D.C., U.S., on Friday, Feb.

25, 2022. (Photographer: Al Drago/Bloomberg via Getty Images / Getty Images) As a result, some taxpayers who submitted paper-filed returns have had to wait an unusually long time to receive their refunds, with wait times routinely exceeding six months.

Government reports Progressive
www.fox29.comwww.fox29.com

Related News

Nirmala Sitharaman - IMF may take time, ADB, WB, US & Indian aid underway: Finance Minister - newsfirst.lk - Usa - India - Sri Lanka - area District Of Columbia - Washington, area District Of Columbia
newsfirst.lk
41%
970
IMF may take time, ADB, WB, US & Indian aid underway: Finance Minister
COLOMBO (News 1st); Minister of Finance Ali Sabri PC says there are a number of issues that need to be addressed in obtaining financial assistance from the International Monetary Fund, including the duration, which could prove to be an obstacle. Joining via Zoom from Washington, D.C., he said it would take a certain period of time to get the support of the International Monetary Fund while alleging that the actions of Governments since 2015 caused for the country to fall to this state.Speaking further, the Minister said that the current discussions with the IMF are at a preliminary stage, and it will take a certian period of time before it reaches a serious point where the IMF will agree to provide the country with funds, as it does not fund simply any country, freely. Accordingly, the Minister said that he discussed the country’s situation with the World Bank as well, which agreed to provide 300 – 600 Million USD between two months to four week’s time. This amount will be directed for the benevolence of those who are in poverty, he added.The Asian Development Bank has agreed to provide funds for Sri Lanka, especially to obtain medicines and other necessities for the people, the Finance Minister said.Moreover, the Finance Minister of India, Nirmala Sitharaman also agreed to provide an an amount worth 500 Million USD to purchase fuel, while an amount of 1.4Bn USD to be paid has been postponed till January via the Asian Clearing Union, Minister Sabry said.“Apart from that, we have requested a 1 Billion USD loan to import essential items.
DMCA