- July 3, 2021
- Posted by: Stratford Team
- Category: Business
Steve Forbes on looming tax hikes
The 2021 tax season was the “quintessential definition of a perfect storm” according to officials, but the total average refund from the returns processed so far is slightly higher than previous tax seasons.
National Taxpayer Advocate Erin M. Collins said in a report to Congress issued this week that the average refund so far for the 2021 season is $2,827, which is about 2% higher when compared with the past three years. The average refund in 2020 was $2,748, while the averages came out to $2,725 in 2019 and $2,780 in 2018.
The IRS, however, has yet to process all of the returns that taxpayers have filed.
IRS REVEALS ‘DIRTY DOZEN’ TAX SCAMS FOR 2021
In addition to the pandemic-related staffing challenges, the IRS was also tasked with distributing several rounds of direct payments to American households during the 2020 and 2021 tax seasons. The agency began the 2020 filing season with a backlog of more than 11…