On today’s IRS Tax refund update we will check in on the latest developments when it comes to those ongoing tax refund delays including the newest update on the tax return backlog. Meanwhile additional reports coming in that the IRS in numerous cases are informing taxpayers they may need to wait an additional six months to receive their refund so we will check in on that as well as the most recent set of notices being released by the IRS in the last week as reported by our viewers. Checking in on the current backlog of unprocessed tax returns which is now at 4 million and that consists of both tax returns filed this year as well as last year. Now this is down 200,000 from our last update as we finally saw some movement on those paper returns which is now at 2.1 million, if you E-filed your return or it requires special processing that number is at 1.9 million that remain unprocessed. Given current processing trends we do not expect this to be cleared up until the Fall. Now with refund delays stretching into another month we have a number of viewers who are reporting zero updates in regards to the processing of their tax returns many of whom are reporting their return is now in the error resolution department for further review. Now this is where many taxpayers are getting conflicting information on their wait time, some being told to wait 10 weeks while others being told 4-6 months.
0:00 Introduction
0:24 Tax Returns
0:50 Delays
2:06 Taxpayer Advocate
2:50 IRS Form 911
3:08 Letter 5071C
3:45 CP05 Notice
4:02 CP75 Notice
4:20 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.
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