Waiting For Your Refund? You’re Not Alone.
The IRS continues to experience delays in processing returns and the related refunds. Taxpayers can check the status of their refunds here, but many times the result will be that the return is processing. A call to IRS will provide the same information until there is an update to the file in the system. From a lack of toner and ink for printers in IRS offices to the backlog of 2019 tax returns still in inventory for processing, there are many reasons for these delays. 2020 tax returns brought more causes for delays, one of which is the Rebate Recovery Credit that allowed taxpayers to claim their stimulus payments on their 2020 tax returns if they did not receive one in the mail or electronically when the stimulus payments initially processed. A recent Treasury Inspector General report indicates that returns with mismatches between IRS stimulus payment records and amounts claimed on the taxpayer’s return require a manual review by an examiner; this will cause significant delays in processing as millions of returns are already in that ‘waiting for review’ status. While the IRS is hiring and trying to remedy the processing lag, it could be some time before all returns that they have received are processed as they continue to implement the new expanded child tax credits recently enacted by Congress.
