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IRS

8.5 Million Tax Refunds Are Still Awaiting Delivery — If You Haven’t Received Yours, Here’s What To Do

A few taxpayers have been hoping for their tax rebates for over months. The Internal Revenue Service (IRS) reported earlier this month that it is dealing with an 8.5 million individual return backlog, which includes 2020 filings with mistakes and revised returns that require adjustments or special handling. According to CNET, refunds normally take 21 days to complete, while the IRS has stated that delays might take up to 120 days.

The IRS has been managing stimulus cheques, child tax credit payments, and refunds for tax overpayments on jobless benefits in addition to delayed refunds. Many Americans rely on these payments, including their tax refunds, but getting in touch with the agency is difficult.

“We’re open and processing mail, tax returns, payments, refunds, and correspondence. However, COVID-19 continues to cause delays in some of our services,” the agency said.

Reasons For The Delay

According to CNET, there are several reasons for the delay, includes the following:

  • There are some mistakes on your tax return.
  • It isn’t complete.
  • It may take up to 14 weeks to process your return, which includes Form 8379, injured spouse allocation.
  • Your return should be looked at again.
  • You applied for the earned income tax credit or the supplementary child tax credit.
  • Your return may be the result of identity theft or fraud.

The IRS will Endeavour to contact you by mail if there is a delay due to a necessary revision. According to the IRS website, the resolution of a problem with your return “depends on how swiftly and accurately you answer, as well as the capacity of IRS staff trained and working under social distancing rules to finish the processing of your return.”

The best solution is to check your IRS account or use the Where’s My Return feature to follow your refund status online. You can call 800-829-1040 or 800-829-8374 during regular business hours if it’s been 21 days or more after you filed your taxes online, or if the Where’s My Refund feature says you should contact the IRS.

Credit: cnet.com