U.S. taxpayers, brace yourselves because tax filing season starts Monday and you can expect the task to be more cumbersome than usual this year.
Your Income Tax Bill for 2022 May Have Just Gotten Cheaper If You Live in One of These 5 StatesAn IRS worker shortage, an enormous workload from administering pandemic-related programs and stalled legislation that would have given the agency billions of dollars for more expeditiously processing returns will combine to cause taxpayers pain this filing season.
Agency officials are already warning filers that “in many areas, we are unable to deliver the amount of service and enforcement that our taxpayers and tax system deserves and needs,” as IRS Commissioner Chuck Rettig put it earlier in the month. Donald Williamson, an accounting and taxation professor at American University in Washington, said he expects “weeks and weeks” of IRS delays in 2022.
Deadlines to file have been extended in the past two years due to the pandemic. It is unclear whether this year the agency will offer similar leeway to taxpayers.For example, individuals who are eligible to claim the child tax credit and have gotten advance payments throughout the year may get a smaller refund than they normally would see.
On Thursday, the IRS released a list of “ Top 5 Things to Remember,” with suggestions for taxpayers on what documents to pull together and what to do if their 2020 returns still have not been processed.
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