Yesterday Clif mentioned that a lot of people feel that this is the last year to file a tax return. This will lead to heavier refunds.
I have been meaning to write about this for several days. Announcement headlines continue to flow out from the Main Street News informing the little folks to delay filing for a while because they don’t know how to treat government refunds (pay outs) in 2022. This appears to be mostly Democrat states.
As a former CPA, I have never seen IRS go into tax season on January 1st unprepared and tax forms not ready.
I believe IRS is throttling back the tax season because the government does not have the funds to pay out refunds.