Blog

The IRS Backlog

The coronavirus pandemic has caused countless waves across the world and the United States. One being the changes the government has made to do what they can to help the American people. From the change in deadlines, government stimulus, and the PPP loans. This has wreaked havoc on the IRS.

The stimulus checks halted processing tax returns. The IRS Commissioner, Charles Rettig, said that they have done all that they can do. In October there were 2.5 million unopened returns and 5.3 million pieces of mail. They have managed to whittled that down to just about one million tax returns and three million pieces of mail remaining.

While there are currently 6.8 million returns in process…

While the IRS is at their record high for employees and offering weekend shifts and overtime in order to get it done.

All in all, the IRS is truly doing all they can to get through this mountain of a task. Your tax preparers are also doing all they can, wait times to speak are hours long and being instructed to call back later. Patience is all that can be done at this point…

hollie bourne

Recent Posts

Your Accountant Is Going to Ask You for W-9s in January. Here’s How to Never Have That Conversation Again.

Every January, business owners chase contractors for W-9s they should have collected months ago. The…

2 days ago

Can You Make Payroll on the 15th? The 13-Week Cash Flow Forecast Answers That Every Monday.

The one report every business owner should see weekly: a 13-week cash flow forecast built…

3 days ago

Your Q3 Estimated Tax Payment Is Due September 15. Here’s How to Know If the Number Is Right.

Third-quarter estimates are due September 15. Most business owners pay last year's number divided by…

5 days ago

You Own Three LLCs and Pay for Everything From One Card. Here’s What It’s Doing to Your Books.

Separate LLCs only protect you if the money stays separate. What happens when one entity…

1 week ago

Filed an Extension This Year? Here’s Why (and How to Make It Your Last)

Most extended business returns aren't a tax strategy. The books weren't ready in March. What…

1 week ago

Bookkeeper, Controller, or CFO? What Your Business Actually Needs (and When)

Somewhere between your first hire and your first million, the finance question changes. It stops…

2 weeks ago