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Expecting a tax refund from the IRS? Here's how long it could take
Biden’s IRS reporting device for third-party payment processors ‘will affect your taxes,’ says Norquist
Americans for Tax Reform President Grover Norquist argues people who have a side hustle and independent contractors are ‘being swept up’ by the administration’s latest IRS push.
The 2022 tax season is officially underway, and the IRS has one request for Americans looking to get their refund faster: File your return electronically and as soon as possible.
Nearly three-quarters of filers received a tax refund last year, with an average payment of about $2,800, the IRS said recently – a major influx of money for most households that many Americans depend on.
IRS TAX-FILING SEASON TO KICK OFF ON JAN. 24
The IRS is already warning of a "challenging" tax season that promises to bring complications and potential delays for taxpayers. That's largely due to the deluge of unprocessed paper returns the agency is working its way through: At the end of December, the IRS had 6 million unprocessed individual returns – a significant increase from its usual backlog of about 1 million unprocessed returns around the beginning of tax season.
There are some steps that taxpayers can take in order to get their money back faster. Experts have urged taxpayers to file their tax returns as soon as possible, noting that individuals do not need previous returns in order to submit their 2021 returns. Americans are encouraged to file electronically with direct deposit in order to avoid potential delays and receive their return within 21 days.