Over the past year, we have noted that the IRS processing times have been delayed due to the pandemic. During this 2020 tax season (Jan to May 2021), there has been delays in the processing of tax returns and several sources point to the change of tax laws during this tax season as one of the reasons the IRS is manually processing some tax returns.
From the article below, you can read: ” The Internal Revenue Service is holding up millions of tax refunds for manual processing and its systems were unable to process all the quarterly payments that needed to be sent by April 15.
The IRS is holding approximately 29 million tax refunds that need to be processed manually because of the complexities of some of the recent tax laws passed by Congress. The agency’s systems are also overwhelmed and were unable to process many of the delayed quarterly estimated tax payments that were April 15, despite pleas from accountant groups like the American Institute of CPAs and the National Conference of CPA Practitioners to delay them until May 17…”
Accounting today’s article – https://www.accountingtoday.com/news/irs-sees-delays-in-tax-refunds-and-quarterly-payments#:~:text=The%20IRS%20is%20holding%20approximately,tax%20laws%20passed%20by%20Congress.&text=%E2%80%9CIn%20total%2C%20the%20IRS%20is,Collins%20on%20her%20blog%20Thursday.
