As of October 30, 2021, the IRS had a backlog of over 2.7 million unprocessed amended returns. The IRS is processing these returns in the order received, and the current processing time posted on its operational page is more than 20 weeks. Our cases indicate that the processing time is considerably longer than 20 weeks, and as such, I have made the difficult decision to suspend accepting cases where the sole issue involves the processing of amended returns until the IRS is able to work through its backlog. We are also analyzing the upcoming filing season and expect to issue revised guidance for original filed returns.
The Internal Revenue Service joined today with several leading nonprofit groups to highlight a special tax provision that allows more people to deduct donations to qualifying charities on their 2021 federal income tax return.
Victims of this weekend’s tornadoes in Kentucky will have until May 16, 2022, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.
With the astonishing rise in the value of Bitcoin, Ethereum, and other digital assets crypto investors and enthusiasts may have serious tax questions on their minds.