You've heard the old adage "Patience is a virtue" right? Well the IRS might need your patience if you're waiting for your tax refund. The agency is dealing with a filing season like no other. Between the stimulus checks, adding an exemption to the tax code of the first $10,200 for 2020 unemployment benefits from federal tax and new tax credits for employers. Plus a backlog of still unprocessed 2019 paper tax returns, and more I don't have time to mention, it's a mess at the IRS for sure. To give you an idea of what they're up against, there are 29 million returns the IRS is now holding for some sort of manual processing. If you're wondering "why not hire more help"? The agency planned to hire an additional 5,000 customer phone representatives to help but so far they've only been able to hire 3,800 new employees due to low numbers of applications and delays in fingerprinting because facilities are closed during the pandemic. If you have a question or are still planning to file with the May 17th extension, just know things are backed up at the IRS and again patience is a virtue.
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