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  • Pandemic Backlog

    From Stuart O. Bronstein@21:1/5 to All on Fri Apr 22 11:00:10 2022
    The Treasury Department and the IRS announced an aggressive plan to
    end the pandemic inventory backlog this year. Deputy Secretary of the
    Treasury Wally Adeyemo and IRS Commissioner Charles P. Rettig
    traveled to the IRS Campus in Philadelphia where they outlined an
    aggressive plan to end the backlog. This year, millions of taxpayers
    are awaiting the processing of their tax returns and receipt of their
    refunds. The backlog has created one of the most challenging tax
    filing seasons in U.S. history. The IRS’s backlog challenges today
    stem from two key sources. First, the agency has been chronically
    underfunded for more than a decade, with its budget cut by nearly 20%
    since 2010. The IRS workforce is the same size it was in 1970.
    However, the U.S. population has grown by 60 percent and the
    complexity of the economy has increased exponentially. Second, the
    pandemic created a unique set of new operational challenges for the
    IRS. The agency was called upon to support emergency relief for
    taxpayers. This included distributing an unprecedented three rounds
    of Economic Impact Payments, totaling over $830 billion, to 85
    percent of American households. Including individual refunds, the IRS
    has distributed over $1.5 trillion to Americans since the pandemic
    began. To tackle the backlog, the IRS has laid out the following
    approach.

    --
    Stu
    http://DownToEarthLawyer.com

    --
    << ------------------------------------------------------- >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2011) - All rights reserved. >>
    << ------------------------------------------------------- >>

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  • From paultry@21:1/5 to Stuart O. Bronstein on Fri Apr 29 10:25:45 2022
    On 04/22/2022 10:00, Stuart O. Bronstein wrote:
    The Treasury Department and the IRS announced an aggressive plan to
    end the pandemic inventory backlog this year. Deputy Secretary of the Treasury Wally Adeyemo and IRS Commissioner Charles P. Rettig
    traveled to the IRS Campus in Philadelphia where they outlined an
    aggressive plan to end the backlog. This year, millions of taxpayers
    are awaiting the processing of their tax returns and receipt of their refunds. The backlog has created one of the most challenging tax
    filing seasons in U.S. history. The IRS’s backlog challenges today
    stem from two key sources. First, the agency has been chronically
    underfunded for more than a decade, with its budget cut by nearly 20%
    since 2010. The IRS workforce is the same size it was in 1970.
    However, the U.S. population has grown by 60 percent and the
    complexity of the economy has increased exponentially. Second, the
    pandemic created a unique set of new operational challenges for the
    IRS. The agency was called upon to support emergency relief for
    taxpayers. This included distributing an unprecedented three rounds
    of Economic Impact Payments, totaling over $830 billion, to 85
    percent of American households. Including individual refunds, the IRS
    has distributed over $1.5 trillion to Americans since the pandemic
    began. To tackle the backlog, the IRS has laid out the following
    approach.

    Backlog not withstanding, return processing this year was
    super quick! I always rough-up a return in January and pay
    in a 4th quarter estimated payment sufficient to buy some
    paper I Bonds for the grandkids. I leave a small amount to
    be refunded so that I'll know when the return has been
    processed. This year, I e-filed on April 17th, the refund
    was in the bank five days later on April 22nd, and the I
    bonds are coming in today's mail, 12 days after filing.

    --
    << ------------------------------------------------------- >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2011) - All rights reserved. >>
    << ------------------------------------------------------- >>

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)