1:48
Donna Bordeaux warns that IRS refunds are taking about a year to process due to backlogs. Instead of overpaying taxes to get a refund, pay only what you owe so you're not giving the IRS an interest-free loan.
Donna Bordeaux warns that IRS refunds are taking about a year to process due to backlogs. Instead of overpaying taxes to get a refund, pay only what you owe so you're not giving the IRS an interest-free loan.
I don't know if you remember but back in 2020 I told you don't depend on getting a refund from the IRS because it may take a long time and unfortun my prediction has come true. We are now seeing a backlog of IRS returns where it is taking people at least a year in some cases to get refunds. And even then it may be a challenge and a struggle based on losing information and not getting things processed timely, dealing with notices in between. So please, please do not plan to overpay your taxes. As much as I can you turn over your money should stay in your hands as long as possible. I'm not suggesting that you do not pay the irs. I'm suggesting that you pay what you owe when it is due and not before that. Don't give an interest free loan on your money to the IRS because you may not even get it back. I'm Donna Bordeaux with pyopaccounting.com Please follow us on Facebook and Instagram. Make sure you check out our blog and our website from the link below. Subscribe to our YouTube channel and hit the bell to be notified when we post. To contact me, email me at donnayobaccounting.com.
