The Internal Revenue Service (IRS) is still addressing a huge backlog of unopened mails and unprocessed returns, causing all kinds of issues for taxpayers.
The tax season has already started last February 12, so the IRS has begun accepting this year’s tax returns. Financial advisors and tax professionals are scrambling to get their clients’ taxes in order, as the agency is expecting to get more than 150 million individual returns this 2021, most before April 15.
In addition to the new wave of tax bills, the IRS has yet to clear last year’s backlog.
According to the IRS website “COVID-19 continues to cause delays in some of our services, ” including live phone support, processing of paper returns and “reviews” of both paper and electronic returns. The agency suggests that taxpayers should not cancel sent checks as they will be recorded on the date they were received, not opened. With a proposed new round of stimulus relief, it seems it will only go more challenging.
Lawmakers are urging for a tax extension until July 15. Hopefully if this pushes through, it will help lessen anxiety for both taxpayers and tax consultants.
The Levine and Associates team understand these delays and are working diligently to process clients’ taxes.
We highly value our clients’ patience and we encourage communicating with us for any inquiries you have.
For existing clients, send us an email at josh@levineanassoc.com for your questions. If you’re interested in working with an experienced tax professional, book a FREE no-commitment consultation at https://calendly.com/levine-and-associates or send us a direct email at info@levineandassoc.com
Looking forward to making your tax filing experience convenient and cost-effective