Americans To Receive $3,253 Tax Refunds
The Treasury Inspector General for Tax Administration report ascribed the backlog to a substantial hiring shortage at the Internal Revenue Service. The IRS has worked hard to fulfill staffing necessities and productivity levels however, it won’t be able to meet its 2022 hiring objectives.
According to TIGTA, “IRS will resume having a backlog in 2023 filing season.” The agency said, throughout the week ended on October 28, the average tax return was $3,253, up 13.6% from a year-over-year. The U.S. Sun has reached out to the IRS for comment.
How Long Do People Need To Wait?
Naturally, the timing of the tax return depends on when people applied. Normally, if the applicant applied correctly, the IRS will process the refund within 21 days. Per what the IRS said, processing the amended returns may take more than 20 weeks counting, compared to the usual 16 weeks.
According to a published post by The US Sun, those individuals who want to check and track the status of their tax returns can use the IRS’s Where’s My Refund tool. IRS updates every day (24 hours-usually overnight).
Ways To Avoid Delays
When it comes to keeping away from delays, some things are not in our control. Beyond all other considerations is to make sure the return is presented and filed correctly with correct and no missing bank details.
Those who submitted electronically are much more likely to receive returns immediately. It takes 6-8 weeks for the IRS to finally process your refunds. Also, there is a possibility that your paper checks may get lost in the mail.
The ways may come in handy as the filing season for returns reflecting 2022 is about a month away. But, IRS warned that returns could be less next year as no further stimulus checks were issued in 2022. Furthermore, the extended Child Tax Credit Program has come to an end.