On today’s IRS Tax Refund Update we will take a look at the latest developments including the next round of tax refunds scheduled for release this week. Also, as the tax filing season has officially ended the backlog of unprocessed tax returns and delayed refunds is continuing to grow by the week to levels we have not seen since last year so we will check in on the latest numbers, and some of the ongoing causes for those refund delays including the increasing amount of fraudulent tax returns delaying even those of you with legitimate returns. Now starting off with the latest as the next round of Direct Deposit tax refunds scheduled for release on May 3rd followed by the next round of paper tax refunds which the IRS will be mailing out on May 5th. Now if you are part of the May 3rd refund batch you should receive that deposit the day of, however do allow up until May 8th to receive it in your bank account before initiating a payment trace. Recapping where things currently stand with tax processing as the IRS has processed 134 million tax returns out of the 137 million received so far this year. So those processing numbers are beginning to drop slightly as we see the backlog continue to grow. Now the backlog of unprocessed tax returns stands at nearly 4 million returns and that number has been increasing by the week. Of that 3.9 million number, nearly 2 and a half million are tax returns filed this year that still have not been processed, with the rest still remaining from last year. If you filed a paper tax return and are still waiting you are among the 1.2 million who have there’s unprocessed with the remaining 2.7 million being e-file returns and those requiring special processing. The only slightly good news we saw in the last month is the total number of unprocessed amended returns is now down to below 1 million, currently at 972,000, now at the beginning of April that number was at over 1.1 million. Now these numbers consist of both amended returns filed this year as well as last year.



0:00 Introduction
0:26 New Tax Refunds
0:53 Tax Recap
1:18 Tax Return Backlog
1:47 Amended Returns
2:11 Audits
2:35 Improper Credits
3:24 ID Verification
3:53 Taxpayer Advocate
4:13 Closing


Disclaimer: This is for informational purposes only and is subject to change. Material provided should not be considered tax, accounting, or legal advice. Please consult a certified tax consultant for tax advice.

#TaxRefund #IRS #News #Taxes #TaxReturn #Tax #Refund #TaxSeason #youtube #video #new #newvideo

свернуть