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Here are some cases where the IRS says your tax refund can face delays: ... The average federal income tax refund in 2024 was $3,138 based on IRS data through Dec. 27, down 0.9% from the same ...
The Internal Revenue Service opens up its tax software before the start of tax season to allow people to begin preparing their returns. ... A 1040 tax form is pictured, the 2025 tax deadline is ...
The incorrect letters also underscore the challenges the IRS is dealing with, including severe understaffing and a backlog of roughly 6 million unprocessed 2020 individual tax returns as of December.
By late May, the IRS reported it had received about 145 million individual income tax returns and issued 96 million refunds to those filers. About 66% filing received refunds. Even so, the tax ...
Everyone's favorite time of year is right around the corner: Tax Day! Filing and paying taxes is a part of life for everyone who works in the U.S. Making sure you file your tax return correctly is...
President Donald Trump has issued a slew of executive orders (EO) since beginning his second term, including one that may have an impact on your tax refund.One of Trump’s EOs initiated a hiring ...
At the end of the 2021 tax filing season, the agency held 35.3 million individual and business tax returns for manual processing. Millions of tax refunds may be delayed as IRS backlog swells ...
The Internal Revenue Service has announced that IRS Free File will begin accepting individual tax returns as of Jan. 10, 2025, for the 2024 tax season. ... A smaller penalty of 0.5% is added if ...