IRS1M has a backlink of unprocessed tax revenue

IRS1M has a backlink of unprocessed tax revenue

The Internal Revenue Service 1 million more paper to be processed Tax The agency’s commissioner told Congress during a recent Capitol Hill testimony that the corona virus returns after infection and then improves stay-at-home orders.

Until Nov. 20, the IRS activated Of the 168.6 million revenues it received, approximately 162.4 million. At the same time last year, the company received almost all revenues – about 155.4 million out of 155.4 million.

“We have done everything we can truly do,” IRS Commissioner Charles Reddick told the House Ways and Means Oversight Subcommittee: “On behalf of the Inland Revenue Service and every employee, we appreciate the patience and understanding of every American. This is not an excuse, but our staff during COVID. I would say they went as far as health and safety matters as other Americans. ”

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While this delay still makes it difficult for Americans to defer financially from the crisis, the IRS pays interest on late repayments.

Taxpayers with a withdrawal date of April 15 to June 30 earn an annual interest rate of 5%, while withdrawals made from July 1 to September 30 receive an annual interest rate of 3%. IRS. Just as it charges interest when taxpayers do not pay on time, the IRS also pays interest to taxpayers.

This result comes from the extension of a query and filing deadline in the tax code The Wall Street Journal.

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In March, the Treasury Department extended the tax filing deadline from April 15 to July 15 as a result of a virus-induced epidemic, which plunged the country’s economy into its worst recession since the Great Recession.

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During that time, the company continued to process electronic revenue and withdraw money via direct deposit.

But when the IRS instructed most of its employees to work remotely in mid-March, bringing the agency’s routine operations to a grinding stop, it created the biggest setback in paper revenue. At one point, the overflow was so high that the IRS had to rent tractor-trailers and separate storage space to store documents until workers returned and began sorting through them, said Nina Oldson, director of the Center for Taxpayer Rights. N.P.R..

Further complicated activities include the distribution of tens of thousands of trigger checks, the $ 1,200 allocated after the March Cars Act was passed. Reddick said the IRS had contacted 4,000 homeless shelters and confirmed that the people staying there would receive the money.

The IRS now exists 3 million Unopened mail fragments, from 5.3 million.

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