Advertisement

IRS to complete individual tax returns filed in 2021 by end of week

All individual tax returns filed in 2021 should be processed and completed by the end of this week, IRS Commissioner Charles Rettig said in a statement. Photo by Bonnie Cash/UPI | <a href="/News_Photos/lp/a1e8471a3d4a771a96c93853e049676e/" target="_blank">License Photo</a>
All individual tax returns filed in 2021 should be processed and completed by the end of this week, IRS Commissioner Charles Rettig said in a statement. Photo by Bonnie Cash/UPI | License Photo

June 22 (UPI) -- All individual tax returns filed in 2021 should be processed and completed by the end of this week, according to the Internal Revenue Service.

The IRS is continuing to make progress managing a massive backload of tax returns, but pandemic and staffing limitations have left it with a larger than usual inventory of paper returns, the agency said in a statement Tuesday.

Advertisement

Without an extension, the deadline to file 2021 individual income tax returns was April 18, 2022. As of mid-April, the IRS had issued $222 billion worth of tax refunds. As of mid-June, it has now processed more than 143 million returns, resulting in almost 98 million refunds worth more than $298 billion.

In late May, it said it will pay 5% interest to people with delayed tax returns starting July 1. That's up a full percentage point from the last interest rate increase in April.

RELATED Justice Department drops 31 remaining fraud charges against Michael Avenatti

As of June 10, the IRS had processed more than 4.5 million of the more than 4.7 million individual paper tax returns received in 2021. It has also successfully processed the majority of tax returns filed this year by taking "aggressive, unprecedented steps to accelerate this important processing work."

Advertisement

The IRS said business paper returns filed in 2021 will follow shortly, as it continues to work on the few remaining 2021 individual tax returns that have had processing issues or require additional taxpayer information.

The agency says better technology means its agents are now able to process between 180 and 240 error resolutions per hour, which is up from the previous number of 70.

RELATED Bill Cosby found guilty of sexually assaulting teen at Playboy Mansion in 1975

"IRS employees have been working tirelessly to process these tax returns as quickly as possible and help people who are waiting on refunds or resolution of an account issue," IRS Commissioner Chuck Rettig said in a statement on the IRS website.

"Completing the individual returns filed last year with no errors is a major milestone, but there is still work to do. We remain focused on doing everything possible to expedite processing of these tax returns, and we continue to add more people to this effort as our hiring efforts continue this summer."

RELATED Alabama, Virginia, Georgia head to polls for primary races Tuesday

Latest Headlines

Advertisement
Advertisement

Follow Us

Advertisement