IRS Backlog May Delay Returns

Be prepared to wait for your tax refund again this year. The Internal Revenue Service (IRS) has issued a statement warning that, due to office closures, staffing shortages, and multiple new tax initiatives and programs, the backlog that built up during the pandemic will likely lead to delays in processing tax returns again this year. 

The Wall Street Journal reported that, as of late December, the IRS still had 6 million unprocessed 2020 tax returns and another 2.3 million unprocessed amended returns. Typically the IRS enters a new year with approximately 1 million unprocessed returns. 

The IRS will begin accepting 2021 tax returns on January 24, 2022, and expects to process 160 million returns this year. The tax filing deadline is Monday, April 18, but taxpayers in Massachusetts have until April 19 to file due to the Patriots’ Day holiday. 

For more information or assistance in filing your corporate or individual tax return please contact Gray, Gray & Gray at (781) 407-0300.

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