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The IRS has until the end of the year to issue the stimulus payments for 2021 and will be reviewing returns for 2020. As the agency continues processing tax returns, additional payments will be made, tax experts say.Why are tax returns delayed in 2021?
A major reason tax returns were delayed in 2021 was because taxpayers made mistakes in reporting their 2020 stimulus payment amounts on their returns, resulting in their tax filings getting flagged for manual review.Why is it taking so long to get my tax refund 2020?
Paper tax returns, and All tax return related correspondence. It is taking the IRS more than 21 days to issue refunds for some 2020 tax returns that require review including incorrect Recovery Rebate Credit amounts, or that used 2019 income to figure the Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC).Why do I receive a letter from the IRS in 2021?
These letters will inform each taxpayer what they received through these programs in 2021 - they are important documents to hold onto because you'll want to refer to those amounts when filling out your tax return.