This tax-filing season has been one like never before. Many of our clients have been contacting us wondering why they haven’t received their payment yet. There are several reasons for the delays, but we can assure you that your return was prepared with the utmost care and expertise, and it is likely part of the sizable IRS backlog of returns.
As of June 5, 2021, the IRS reported more than 18 million 2020 returns in its pipeline to be processed, and a few million others have yet to be finalized from 2019. This past year has been extraordinary, the least of which being the COVID public health crisis and widespread unemployment. In addition, a series of stimulus payments from the federal government to help people navigate COVID financial woes was also managed by the IRS, and to ensure all eligible citizens received stimulus money, the IRS told Americans that everyone should file a tax return. Between more returns, unemployment amendments, issuing stimulus money, and processing regular returns, the IRS has had its work cut out for it. Like many businesses during the pandemic, the IRS had obstacles to overcome, like switching its workforce from onsite to virtual and operating with a reduced staff.
If you have not received your refund 21 days after filing, it is likely under further review. This happens more frequently when a return includes a recovery rebate credit, suspicion of identity theft or fraud, a claim for an earned income credit, or other criteria that will ping a return for a manual review.
If you receive any correspondence from the IRS regarding your return, please contact an ICG Team member with a copy of the letter you received, and we can guide you through that. Unfortunately, due to the delays in processing, some notices are being sent by the IRS despite timely follow-up by you, or us on your behalf. At this point, we are as powerless as you to speed up the IRS process, so patience is our best option right now.
Contact Us for Assistance
If you have any questions about tax refunds or would like tax preparation assistance, please contact our tax professionals at The Innovative CPA Group at 203-489-0612 or via our contact form.
Contact Us
Whether you know exactly what accounting service you need or have a tough question, The Innovative CPA Group team is here and ready to help. Let’s collaborate to accomplish your personal or business goals.