IRS Issuing Refunds Later Than Usual
For taxpayers receiving a refund for the 2019 tax year, many are noticing that the check or direct-deposited funds they are expecting have not been received. The IRS has stated that they are behind on processing tax returns this year due to having reduced staff availability caused by the COVID-19 pandemic, and are consequently behind on issuing refunds.
While staff availability was reduced earlier this year, IRS representatives has said that more staff have been able to return to work during July, and that tax return processing is expected to return to resume as normal in August. While there is a significant backlog of returns to process, returns with refunds are being prioritized in order for those refunds to be issued as soon as possible. For returns filed before the deadline that were due refunds, there may even be interest income added to the refund amount – this interest will be taxable income for 2020.
If you are still waiting for your refund, you can check the status by visiting the IRS website here. You will need your social security number, filing status (single, married, etc.), and the amount of the refund as reported on the tax return in order to check the status.