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Five things to know for this year’s tax season

admin by admin
January 31, 2022
in Tax
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Five things to know for this year’s tax season

Hundred dollar bills with the words "What's Next?"

A worker shortage, an enormous workload from administering pandemic-related programs and stalled legislation that would have given the agency billions of dollars for more expeditiously processing returns will combine to cause taxpayers pain this filing season.

Because of this, the IRS is asking people who can to file electronically (Efile). The agency reports paper returns could take several weeks longer this year.

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According to the IRS, people who Efile usually receive their refund within three weeks of the date the IRS receives their return.

People who set up direct deposits are also expected to get theirs faster. If you mail a paper tax return, it can take 6 to 8 weeks to process the return and possibly longer due to staffing issues.

The IRS notes that filing a complete and accurate return will help streamline the process. Taxpayers are encouraged to check IRS.gov for the latest on questions around advance payments of the Child Tax Credit, claiming a Recovery Rebate Credit for missing stimulus money and other issues.

Antsy and just can’t wait to see that larger number in your account? You can always check the progress of the refund using the IRS Where’s My Refund tool.

The tax filing deadline for filing your 2021 returns is Monday, April 18, 2022. They aren’t due on the traditional date of April 15 because of the Emancipation Day holiday, commemorating the end of slavery in Washington, D.C., falls on the same day this year.

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