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Average 2021 tax refund up from past 3 years


Average 2021 tax refund up from past 3 years
By Brittany De Lea
The
2021 tax season was the quintessential definition of a perfect storm according to officials, but the total average refund from the returns processed so far is slightly higher than previous tax seasons.
National Taxpayer Advocate Erin M. Collins said in a report to Congress issued this week that the average refund so far for the 2021 season is $2,827, which is about 2% higher when compared with the past three years. The average refund in 2020 was $2,748, while the averages came out to $2,725 in 2019 and $2,780 in 2018.
The IRS, however, has yet to process all of the returns that taxpayers have filed. ....

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Average 2021 tax refund up from past 3 years


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Thanks, Stimulus Payments: Why Americans are Facing Delayed Tax Returns


Thanks, Stimulus Payments: Why Americans are Facing Delayed Tax Returns
As the Internal Revenue Service (IRS) has fallen behind in processing the millions of income tax returns, that is potentially delaying the refunds owed to the American taxpayer.
Here s What You Need to Remember: The IRS is also still dealing with the fallout from the pandemic, and as of March, the agency still had a backlog of 2.4 million paper returns from the 2019 tax year to process.
If you filed your income tax return and haven t gotten your refund you re not alone. Some 31 million returns are being held for manual processing ahead of the May 17 tax filing deadline, and that backlog has grown by two million returns since mid-April. As the Internal Revenue Service (IRS) has fallen behind in processing the millions of income tax returns, that is potentially delaying the refunds owed to the American taxpayer. ....

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