According to the IRS, they are “opening mail within normal timeframes and all paper and electronic individual refund returns received prior to April 2021 have been processed if the return had no errors or did not require further review. As of December 31, 2021, we had 6 million unprocessed individual returns. Unprocessed individual returns include… Read More
[Originally published on Forbes.com] John Sheeley couldn’t believe what he was hearing. He was listening to brand new IRS Commissioner Charles Rettig deliver a keynote address at a tax conference in the summer of 2019. Commissioner Rettig told the group of tax professionals that, in addition to the obvious staff shortages and budget cuts, another… Read More
Last Monday, Treasury Department officials took the preemptive step of warning taxpayers that the upcoming tax season, which begins on Monday, January 24 and runs through April 18 (as of this writing), will be messy and could see delays. Pointing to staffing shortages and paperwork backlogs, officials said taxpayers will likely face frustrations similar to… Read More
After almost a year, I’m back on the blog. Heading into the third pandemic-affected filing season, much has changed here at Tax Therapy. First, I am working from home for the foreseeable future. That means the practice has transitioned from mostly office-based to mostly virtual. The only clients I will be seeing in person are… Read More
Remember when they were doing direct deposit or mailing a paper check? Well someone convinced someone that prepaid debit cards were a better idea. I won’t wax philosophical on the fact that you can’t usually pay rent with a debit card. Instead, I will link to this article from The Tax Girl letting you know… Read More
It’s Thursday and, after a fairly productive start to the week and a really hectic Wednesday, I am working from home. I have a 2-hour class today and I also needed to catch up on reading and administrative tasks. The tax returns, however, keep on trucking. I’ll be back in the office tomorrow (Friday) working… Read More
Wow! That’s all I can say. This blog post is late because I have managed to string together three productive work days in a row and it feels like it’s gonna hold through the rest of the week! So, where are we at? Unfortunately we are still in early to mid-March as far as return… Read More
In case you missed the memo, NM Governor Michelle Lujan Grisham (a.k.a. Notorious MLG), has extended the stay-at-home order through May 15th. Cat and I are going to continue to honor that by Cat staying at home. That means no phone support for me. That means leave a message! I am usually at the office… Read More
OK! Still feeling like I’ve turned a corner. Getting returns processed. Cat is finding her “work at home” groove too. We are moving slowly through the stacks that have been here since mid-March when all hell broke loose. I am still having to set aside some of the more complex ones for when I am… Read More
Economic Impact Payments I got mine. So I can answer one question—no, the IRS is not going to “do the math” to see if your dependent child who was eligible for the Child Tax Credit (CTC) in 2018 or 2019 is going to be eligible in 2020. You will get the additional $500 payment if… Read More