Starting on Monday, January 24, 2022, taxpayers will be able to begin submitting their 2021 tax returns to the IRS. This, according to the IRS, will give enough time to program and check their systems to make sure they work properly, according to Investopedia.
Starting on Monday, January 24, 2022, taxpayers will be able to begin submitting their 2021 tax returns to the IRS. This, according to the IRS, will give enough time to program and check their systems to make sure they work properly, according to Investopedia. (Photo: Corporate Finance Institute)
IRS Tax Season
According to CNBC, individual tax returns totaled 6 million in December and 2.3 million in the following month, according to a report from the IRS. 2 million unprocessed worker quarterly tax returns and 5 million pieces of taxpayer mail, some from April, were also found in the backlogs at the time. Even nine months after filing, many taxpayers were still waiting for their refunds.
Should you need an extension to file your 2021 tax return, the closing date is Monday, April 18, 2022. Due to the District of Columbia’s Emancipation Day holiday, the due date for 2022 is April 18 rather than April 15. Patriots’ Day in Maine and Massachusetts means that taxpayers must wait until April 19, 2022, to file their returns.
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Starting on Monday, January 24, 2022, taxpayers will be able to begin submitting their 2021 tax returns to the IRS. This, according to the IRS, will give enough time to program and check their systems to make sure they work properly, according to Investopedia. (Photo: Cleveland)
IRS Urges Taxpayers To File Electronically
This year, the IRS is urging taxpayers to use electronic filing. Taxpayers who choose to file digitally are much more probable to have their returns processed more quickly than those who file paper returns, according to the agency, according to CBS News. Due to the IRS’s reliance on computers to process digitally filed returns, print returns must be handled manually. During this time, the IRS closed its offices, and employees ceased opening mail, delaying the computation of paper returns.
The Internal Revenue Service advises that taxpayers organize their refunds to be deposited directly into their bank accounts. According to the agency, the quickest way to receive your money is to use a combination of e-filing and direct deposit, which transfers the funds directly into your bank account.
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