Hackers are taking advantage of American’s Social Security Numbers and ITINs being exposed in multiple Fortune 500 security data breaches. The sooner you file your refund for taxes, the better. The IRS reported $2.3 billion in fraud in 2019 tax returns which means you have a 1 in 200 chance of having your life turned upside down. The IRS highly recommends filing early to reduce the number of fraud cases.
Many people are expecting a tax refund in 2020 and they will be filing early to get access to these funds. The IRS is expecting a 7% increase in January and a 10% increase in February returns and their total employee size has actually decreased from 2019 to 2020 and have lost more than 10,000 employees in the past five years.. The delay on IRS payments has been stated by the IRS to be up to 6 weeks in 2020. Our tax preparation services can be paid from the refund, we can file in the first weeks of January 2021, and we also provide a cash advance up to $6000 with no credit check and instant approval for your refund. This means you can pay for your tax preparation from your refund and be paid instantly for your refund.
If you are interested in any of these services please let your tax preparer know.
Two additional factors have added to the delays expected in 2021. First the IRS allowed people to delay their filing of the taxes by three months in 2020. This pushed three months of work out and into 2021. Secondly, IRS staffing levels have been effected by the national stay at home order because of COVID-19 and their ability to process returns. Please ask about our services to get your money back to you faster.