The US Treasury has no plans to postpone the April tax filing deadline

 

The US Treasury has no plans to postpone the April tax filing deadline

ACCORDING TO TREASURY OFFICIALS, the US Treasury has no plans to wait until the 2021 income tax filing season beyond the usual April 18 deadline after giving taxpayers more time to file returns during each of the previous two years due to the COVID-19 pandemic. He said on Monday.

The official said the Internal Revenue Service would begin accepting individual income tax returns on January 24. That's three weeks before last year when the application deadline was eventually pushed back to May 17.

In 2020 when shutdowns were widespread, the tax filing deadline was pushed back to July 15, contributing to a further backlog of unaddressed returns.

Treasury officials said the backlog, typically about 1 million returns, has grown to several million, mainly due to challenges related to COVID-19, including a fewer staff available to process returns.

However, the Treasury said that most taxpayers should still be able to receive refunds from direct deposits within 21 days of filing electronically, excluding any issues with processing their returns.

The Treasury Department is seeking to make $80 billion in long-term investments over a decade in the IRS, including customer service personnel, new data processing systems, and the ability to audit more complex returns as part of better rebuilding legislation for the Biden administration.

But Democrats' $1.75 trillion social and climate spending package faces an uncertain future in Congress due to opposition from some of the provisions in the party's moderate lawmakers.