[Updated Feb 2022] Many tax filers are now seeing messages on their IRS2Go and WMR app that confirms their tax returns are going to take longer than normal to process. Tax Topic 152, which just alludes to ongoing and potential processing delays, has not provided much help.
The IRS also announced that early filers claiming the CTC and EITC credits, and hence subject to the PATH freeze, will need also see delays until March 1st to receive refund direct deposits.
The good news however is that the IRS has started issuing refunds for those who are not impacted by the above delays.
As of Feb 4th (latest IRS statistics), a total of 16,685,000 returns have been received, with 12,992,000 processed and 4,330,000 refunds issued. The total value of refunds paid is around $9.5 billion (50% by Direct Deposit), with the average refund being $2,201.
I will continue to monitor/update readers on refund payments, processing delays and you can subscribe here or via the following options to get the latest news.
With the pandemic entering it’s third year and ongoing staffing shortages, the IRS has confirmed what many have known – tax return processing and refund payments will likely take longer than expected this year.
A trend that was clear last year, IRS refund processing and payments may get even worse in 2022. Recent headlines from major publications all but confirmed this, as did the IRS’ own reporting.
However, even you file early and correctly as recommended using the best tax software providers, you will still likely face delays if your return has issues with items related to the advance child tax or earned income tax credit.
Ultimately many taxpayers will need to call the IRS to resolve their tax related issues, but that is going to be a lengthy process as getting through to a live agent can take hours during the peak of tax season.
But here are some tips and items to remember.
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Feel free to leave a comment below as well with your experiences or to help others stuck waiting for a refund.