* In the Eide Bailly “Tax News & Views” blog’s recent “Calling Santa Roundup” Jay Heflin quotes an item from Bloomberg Tax (unable to provide a link here as it is a restricted paid subscription site) with the sad news about the IRS processing of manual returns (highlight is mine) -
“’Taxpayers will have to wait at least six months to get refunds on paper tax returns filed this year’, National Taxpayer Advocate Erin Collins said.”
“Even if returns were filed in January, refunds for paper-filed returns may arrive in June’, she said, speaking Thursday at a D.C. Bar conference.
Collins also said amended returns, even if they were filed electronically, are being processed as if they were paper. Amended returns, she said, are 'just as backlogged as the original return.'”
There is absolutely nothing your tax preparer can do to expedite the processing of your 2021 tax return – so don’t email him or her if you haven’t received your federal refund yet!
* TaxGirl Kelly Phillips Erb discusses “Many Unhappy Returns: How to Deal With a Bad Tax Relationship” at her BLOOMBERG.COM blog.
One good point she makes that is important for taxpayers/clients to understand (highlights are mine) –
“. . . your tax professional isn’t a miracle worker. If you haven’t done any tax planning all year, checked up on your withholding, or paid attention to cryptocurrency and other transactions, your tax professional can’t simply wave a magic wand to make things different.”
* Russ Fox continues his series on “2022 Tax Season: The Tax Season From Hell” at TAXABLE TALK with “Part 2”, which looks at what should be done by Congress and the IRS to fix the mess he described in Part 1.
His first item hits the nail on the head, echoing what I have been saying for years – “(a) pass simplification . . . and (b) stop making the IRS a benefits agency (which it isn’t).”
But, as Russ correctly points out, “Unfortunately, there is no chance of anything like this coming from this Administration.”
Russ also recommends we “Change the Tax Filing Deadline to May or June 15th.” While I have always opposed extending the mid-April initial deadline, I would actually not object to extending it to April 30 – but no later.
THE LAST WORD
I wonder how many of the 1 Million Americans who died of COVID would still be alive today if Trump was not the President in 2020.