What's happened
The IRS reports that nearly a million people have not filed 2020 tax returns, missing out on over $1 billion in refunds. Despite an increase in the average tax refund to $3,011, fewer taxpayers are receiving refunds this year. Some Americans face delays in receiving refunds due to various reasons. The IRS is highlighting customer service improvements after receiving new funding, aiming to enhance efficiency. The Tax Day deadline for most Americans to file federal income tax returns and extensions is approaching.
Why it matters
The unclaimed tax refunds highlight the importance of filing tax returns to receive owed money. The delays in refund processing impact individuals waiting for their money. The IRS's efforts to improve customer service aim to enhance taxpayer experience and efficiency. The approaching Tax Day deadline underscores the urgency for taxpayers to file their returns or extensions.
What the papers say
The IRS reports that nearly a million people have not filed 2020 tax returns, missing out on over $1 billion in refunds. The average tax refund has increased to $3,011, but fewer taxpayers are receiving refunds this year. Some Americans face delays in receiving refunds due to various reasons. The IRS is highlighting customer service improvements after receiving new funding, aiming to enhance efficiency.
How we got here
The IRS is urging individuals who have not filed their 2020 tax returns to do so before the May 17 deadline to claim their refunds. The increase in the average tax refund this year contrasts with fewer taxpayers receiving refunds. Delays in refund processing can be attributed to identity theft, IRS errors, or inconsistencies. The IRS has made efforts to improve customer service and efficiency following new funding.
Common question
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The Internal Revenue Service is the revenue service of the United States federal government. The government agency is a bureau of the Department of the Treasury, and is under the immediate direction of the Commissioner of Internal Revenue, who is appointe