Tax season is halfway finished! Now before you go questioning my math, let me explain. Because of my particular client base, I have found that by February 15th I have taken in about half of my returns. (Notice I didn’t say finished.) The actual percentage changes each year depending on the weather and when W-2s are released. While I’ll see fewer returns come in each day from now on, they’ll be more complex.
The season, so far, has been crazy because of the refund problems. The first problem was fraud filters that were too tight and were catching everyone. Once that was fixed, the deluge of returns didn’t bother MeF (Modernized e-File) but clogged up processing refunds. The hardest hit were taxpayers whose returns were accepted Feb 2, 3, 4, or 5. Many of them are still waiting for their refund in the IRS processing clog. It has to be frustrating for them since some taxpayers who filed last week now have their refunds.
There were extreme problems with at least one small tax chain and a couple of interesting bad preparer stories (one involving armed robbery) I’ll catch up on tax issues and blogging soon. But for now, I have a pile of returns to finish.