Millions of Backlogged Tax Returns

As of March 5, 2021, the IRS still had 2.4 million individual tax returns received last year in the processing pipeline. Including current year returns, as of March 5, 2021, they had 9.2 million unprocessed returns in the pipeline. As it was last year, a lot of these returns are paper, not electronic, returns. The IRS states they are working hard to get through the backlog. They ask that taxpayers not file a second tax return. Just as it was last year, returns filed electronically in 2021 will be processed a lot faster than paper returns. When the paper returns will get processed is a question no one can answer. One thing is certain, taxpayers have become too reliant on filing a paper return, even though e-filing is an option for the majority of taxpayers.  

For those who are due a refund, e-filing is the fastest and most efficient way to file a tax return. If you owe money, filing a paper return may be in your best interest. How do you know what’s best for you? Talk to one of our experts, and we’ll guide you through the process!