Richard Rubin

speaker

1,496 appearances 29 recordings 1 series first heard Oct 2017 last heard Jan 2024

Richard Rubin’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · IRS Facing Backlog of Taxpayer Correspondence · 8 Jun 2020 podcast

Yeah, and that's not coming back anytime soon. matched

So the walk-in centers or appointment centers or face-to-face audits and collections work that the IRS does, that's, I think, still a ways out until they can figure out a way to do that safely, both for taxpayers and for IRS employees. matched

There has been. matched

You've seen some professional groups and business groups as well as the union that represents IRS employees calling for that to get delayed. matched

It hasn't happened yet. matched

We haven't seen a ton of pressure from members of Congress for that at this point. matched

And a lot of things have come in. matched

People have been filing tax returns. matched

since April. matched

And so the backlog of potential returns to be filed is not quite as enormous as it would have been in April. matched

But there are other things that are due. matched

Other deadlines that came up between April and July for estimated taxes and other things have also been delayed to July 15th. matched

So there is a number of items that are theoretically due on that date, which should create a fair amount of work for the IRS at that point. matched

So it's been slower. matched

The pace of returns coming in is about 6.5% below where it was this time last year. matched

And there's two effects there. matched

One is obviously people who wanted to wait and pay later are not sending in their returns. matched

But countering that is the number of people who have been getting, you know, created tax returns to be non-filers, non-typical filers to get their stimulus payments. matched

But processed returns are running 13% behind last year. matched

So it's some at least indication that refunds are not kicking out quite as quickly as they normally do for everybody. matched

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