A good number of people are eligible to receive a tax refund from the IRS. Yet, as a result of the COVID-19 pandemic, taxpayers have experienced delays in getting their tax refund. Due to backlogs of 2020/2021 tax refunds processing, the IRS will delay the processing of 2022 refunds. The pandemic disrupted a number of industries, especially those that require employees in office due to the sensitive nature of their daily tasks. As myriad businesses closed or limited access to prevent the virus from spreading, the processing time has increased manifold.
In the United States, the Treasury Department already signaled that the tax returns for 2021 years in 2022 would be a challenge. The IRS department has assured us that you will receive your refund 21 days after you file your returns. If there are more delays, this is what to expect and when to reach out.
How Long Should you Wait for your Tax Refunds in 2022?
The Internal Revenue Service reported that on December 31, the unprocessed returns amounted to 6 million, a notable decrease from the backlog of 30 million. Although recording a higher backlog compared to the unprocessed returns is the standard at the start of any tax seasons.
As a taxpayer, you might be nervous and expect delays in 2022. IRS reports you should expect your returns 21 days after your filing. For additional credence, there are many taxpayers claiming to have already received their refunds.
In February 2022, the IRS issued 4.3 million returns worth $9.5 billion. Charles Rettig, the IRS commissioner, reports that millions of people are still waiting for their tax returns. Most of the delays in processing tax returns are still caused by the backlogs of 2020. The backlog grew tremendously at the start of the pandemic, and the ongoing slowdowns have been a result of this virus. This is also why it’s more important than ever to file your taxes on time.
Image by Jan Vašek