March 28, 2022
Q. Do you think there is going to be a tax deadline extension again this year?
A. We certainly hope not! The past two, due to COVID-19 restrictions, the tax filing deadline has been pushed out.
Although the IRS is extremely short staffed, we are starting to see long-standing issues be resolved slowly and processing time for 2021 returns filed electronically have been 7 - 14 days. However, we expect the closer we get to the deadline, the longer the processing times will be.
There also were no new law changes at the end of 2021, nor retro-law changes in 2022. This certainly allows for the IRS to do their job without having to shift like Roadrunner being chased by Wile E Coyote.
Based on this, we recommend that you do one of your least favorite tasks (if you haven’t already) and get all the documents gathered and to your tax preparer this week.
Refer to these checklists for some guidance when reviewing your tax return:
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