WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’?

 As I often say – some BUZZ is better than no BUZZ.

* A recent JS CORPORATION WEEKLY TAX TIP provided some good information and advice on “Understanding Tax Terms:Contemporaneous Records”.
 
* The National Taxpayer Advocate’s NTA BLOG provides a clear and easily understandable explanation of the recent penalty relief in “Good News: The IRS IsAutomatically Providing Late Filing Penalty Relief for Both 2019 and 2020 Tax Returns. Taxpayers Do Not Need to Do Anything to Receive this Administrative Relief”.
 
* Have you checked out the TAX PLANNING RESOURCE CENTER yet?  Why not?
 
* According to an August 29 update from the on the status of the processing backlog -
 
“As of August 19, 2022, we had 8.7 million unprocessed individual returns received in calendar year 2022. These include tax year 2021 returns and late filed tax year 2020 and prior returns. Of these, 1.7 million returns require error correction or other special handling, and 7 million are paper returns waiting to be reviewed and processed.”
 
And -
 
“As of August 20, 2022, we had 1.9 million unprocessed Forms 1040-X. We are processing these returns in the order received and are working hard to get through the inventory. The current timeframe can be more than 20 weeks instead of up to 16.”

What should you do if you are waiting for a refund?  Nothing.  Just have patience.
 
FYI – I and others I have heard from received our 2021 refund just within 6 months of mailing the return to the IRS (all manual returns).
 
* BOBSERVATIONS is now a “normal” blog posted weekly.  Check out the latest post – I remember attending the wedding of Sly of Sly and the Family Stone in 1974.
 
THE LAST WORD
 
Nothing Trump said or did from January 2017 through January 2021 was the least bit “presidential” or indicated that he had any clue about the responsibilities and limitations of the office of President or actually knew his arse from a hole in the ground about anything.
 
Forget that Trump is a traitor and a crook, doesn’t care one ounce about anyone or anything but himself, and that his one and only agenda as President was to line his pockets and feed his ego.  Trump is an incompetent moron!
 
TTFN