The Taxpayer Advocate Service has published an article titled “NTA Blog: 2021 Filing Season Bumps in the Road: Part III,” which provides information regarding the IRS’s processes during “filing season.” The article begins as follows:
Despite all its challenges, the IRS processed 136 million individual income tax returns and issued 96 million refunds totaling $270 billion during the 2021 filing season. For those not familiar with IRS jargon, the term “filing season” is a term of art that includes income tax returns filed on or before the due date of the return, without considering returns filed after the due date or before the October 15 extension date. For example, the 2021 filing season consists of mostly tax year 2020 income tax returns filed between February 12, 2021, and the postponed due date of May 17, 2021.
To view the full article, click here: “NTA Blog: 2021 Filing Season Bumps in the Road: Part III”
Posted by Anthony Tran, Associate Editor, Wealth Strategies Journal