One can get anxious because the tax season is like that, a time in the year when we get nervous because no one wants to have problems with the Internal Revenue Service (IRS), right? In this tax season, which is reaching its crucial phase with just over three weeks before the deadline, it is common for those who filed their returns earlier to question why the processing of their return is taking so long.
The IRS has experienced a 1.7% decrease in the number of tax returns received compared to the previous year, but at the same time has processed at least 2% fewer returns in the same period. One of the reasons for the delays is that the deadline for filing returns is shorter this year. The tax season started one season later than usual and closes nine days earlier, compared to the year 2023. This has created additional pressure on taxpayers, but also on the processing and processing of returns by the IRS. These factors could explain why some returns are experiencing delays in their processing and in their tax refunds.
How Long Does It Take for the IRS to Process My Tax Return?
According to the IRS itself, most refunds are issued within 21 days of receipt. If you don’t know what’s the status of your refund, you can use the “Where’s my Refund” tool, where filers can check the status of their tax refunds.
The agency has clarified to taxpayers that the most common reasons why tax returns include, for example, that it was sent by postal mail, which takes longer to be processed today compared to those returns that were sent by digital means. In other cases, the statements were submitted with errors or are incomplete, and need additional review.
In specific cases, the IRS may have detected possible cases of identity theft or fraud, or the returns may have been referred to banks to analyze possible cases of suspicious activity.
The calculation of the average tax refund is done by adding up all the tax refunds issued by the IRS in a given period, divided by the total number of refunds issued in that same period. Having said this, the average tax refund issued by the IRS as of March 1 is $3,182. This means that all the tax refunds issued up to that date are added together, and that sum is divided by the total number of refunds issued.
What Is the Injured Spouse Allocation Form?
The Injured Spouse Allocation Form is a document used in situations where a spouse believes that they have suffered a tax injustice due to their partner’s tax liability. This may occur, for example, when a spouse is liable for taxes derived from joint income, but considers that he or she should not be liable for all or part of such taxes due to specific circumstances.
By filing the injured spouse assignment form with the IRS, the affected spouse seeks to obtain tax relief by transferring some or all of the tax liability to the spouse responsible for the income in question. The IRS will evaluate the situation and determine if it is appropriate to grant this tax relief.
Processing this type of form can take time, as the IRS needs to carefully review the documentation provided and assess the tax situation of both spouses involved: that could take up to 14 weeks.