New Announcement for Tax Returns!

Ferrone & Associates CPAsBlog

Some good news on IRS tax return processing.

The IRS has dedicated the past several months on processing a key group of 2020 individual tax returns filed during the 2021 and anticipate having them completed by the end of this week.

As of June 10, more than 4.5 million of the 4.7 million individual paper tax returns had been processed.  IRS employees have continued to work hard to process these and other tax returns filed in the order received. Good News is… still behind but making progress.

Now the race is on for 2021 tax returns. Will the 2021 tax returns be filed by year end? Stay tuned… but don’t hold your breath while you’re waiting!!!!!

The IRS urges people to file as soon as they are ready. This is rich, the IRS is telling us to file soon? Really? Shouldn’t that read; The IRS is urging us to hold off, so they can get caught up?? 

IRS advisory; There is no need to wait until the last minute before the October 17, 2022 extension deadline. Filing sooner avoids potential (more like “inevitable” ) delays for taxpayers, and it also assists the larger ongoing IRS efforts to complete processing tax returns this year.  

Just fun’in with you IRS. Congratulations on completing 4.5M, 2020 tax returns.