WASHINGTON — The Internal Revenue Service announced today that it will issue information letters to Advance Child Tax Credit recipients starting in December and to recipients of the third round of the Economic Impact Payments at the end of January. Using this information when preparing a tax return can reduce errors and delays in processing.Is IRS still holding refunds?
The report pointed out that over 35 million tax returns (roughly two-thirds of which are refunds) remained unprocessed or in some stage of processing. The agency has certainly decreased that number in the last month. But millions of tax refunds are still pending.