The IRS is Collapsing Under the Weight of 10.3 Million Tax Returns.
by Daniel Pilla | Jan 25, 2022 | Tax FAQs
BIDEN ADMINISTRATION INTENDS TO TURN THE IRS’s DOGS LOOSE
Who Will be Targeted When it Does?
The IRS is collapsing under the weight of 10.3 million tax returns. That’s the number of returns the IRS is currently sitting on (and has been since about April 2021) which have not been processed. On top of that, there’s another approximately 5 million unprocessed letters from taxpayers sitting in mail bins and tubs nationwide. Between the COVID shutdown in the summer of 2020
and the various pandemic relief bills that Congress churned out over the past 20 months, the IRS is simply overwhelmed. And rather than seeing any relief in sight, EXPECT THE PROBLEMS TO ONLY GET WORSE. The 2021 tax return filing season begins in just another few weeks. The agency will face the need to process another roughly 155 million personal tax returns along with about 100 million business returns, not to mention over 3.8 billion (that’s with a B) information returns, including Forms W-2 and 1099.
Even the promised $80 billion in increased funding to the agency (currently stalled in Congress) cannot cure this massive problem. The reason is that agency has been spread too thin with a myriad of non-tax related duties, such as administering Obamacare and the new refundable Additional Child Tax Credit. It is time we face the reality we must abolish the current tax system and start over.
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