"Extreme delays" for millions of taxpayers awaiting IRS refunds

by @cbsmoneywatch

@cbsmoneywatch— Because of an IRS backlog, some Americans are "in for a long wait" to get their money, U.S. taxpayer advocate says.

The Fiscal Times—Millions of Taxpayers Face ‘Extreme Delays’ in Getting Refunds: IRS Watchdog. Yuval RosenbergJune 29, 2020The novel coronavirus pandemic has resulted in some serious backlogs at the Internal Revenue Service, the National

Mail Online—IRS is yet to process 'millions' of federal income tax returns due to 'extreme delays'. A new report released to Congress this week revealed the IRS had a backlog of 4.7 million paper tax returns as of May 16, after suspending core operations due to the COVID-19 pandemic.

Business Insider—The IRS will pay you interest if your refund is delayed this tax season. PAUL RATJE/AFP via Getty Images   The IRS announced on Wednesday that it will pay interest on delayed refunds, the Wall Street Journal first reported. Typically the IRS has a 45-day grace period after the April 15 tax deadline to issue tax refunds, but the rule doesn't apply because of the tax-deadline extension. If your refund is issued between April 15 and June 30, you'll earn 5% interest, compounded daily. If your refund is issued between July 1 and September 30, you'll earn 3% interest,...