Congress Concerned by IRS Delays
Nearly 10 million tax returns remain unprocessed by the IRS as of early December 2021. This is worrying members of Congress who say the delays are “causing significant and unnecessary burdens for families and small businesses who can’t get answers from the IRS about why their tax returns have not been processed. The IRS is in danger of falling into a vicious backlog cycle that will harm millions of taxpayers.”. Members of Congress requested answers to various questions including what is the IRS’s plan to process these backlogged returns before the next filing season, what steps are they taking to avoid this issue in the future, and their general hiring plans. The letter can be read here.
Key Tax Credit Information Will Be Provided by the IRS to Aid in Preparing 2021 Tax Returns
Taxpayers that received Economic Impact Payments (AKA Round 3 stimulus checks) and Advanced Child Tax Credits in 2021 will soon receive correspondence from the IRS with information regarding the payments that were made. These letters, expected to be mailed in December 2021 and January 2022, will be key to preparing 2021 tax returns. Please retain them with your other important tax documents and submit them with your 2021 tax return information. The IRS announcement can be read here.
